On June 1, 2022, the price of a tonne of cobalt fell to 73,630.00 USD
Despite its strategic position in the ecological transition for a more sustainable world, cobalt began, several weeks ago, a gradual drop in its price on the market.
As of June 1, 2022, prices posted on the London Metal Exchange (LME) indicate that cobalt is trading at USD 73,630.00 per tonne on this market.
In mid-May 2022, cobalt recorded its highest market value, selling for around USD 87,000 per tonne on the international market.
In a report by the Cobalt Institute published last week, it was confirmed the key role of cobalt in the green transition, thanks to the rapid growth of the lithium-ion battery market and the rapid development of electric vehicles.
For David Brocas, Chief Cobalt Trader at Glencore, and Chairman of the Executive Committee of the Cobalt Institute, “Securing access to raw materials is a crucial issue in achieving a more sustainable world and moving towards a more sustainable future. green “. Cobalt’s role in batteries and recycling makes it a key metal in the path to carbon neutrality, he says.
In 2021, the cobalt market jumped by 22%, a level never reached before.
After the easing of the barrier measures in the fight against the Coronavirus pandemic by China, several precious metals, in particular copper or aluminum, recorded a slight increase in price.
This upward trend should be confirmed over the next few weeks and should continue until next 2023, note experts in the sector.
[…] On June 1, 2022, the Price of a tonne of Cobalt Fell to 73,630.00 USD […]