The erosion of cobalt prices continues, the ton is trading at 72,000.00 USD as of June 15, 2022
The drop in cobalt prices that began in May 2022 continues until mid-June of the year on the international metals market.
According to the indications of the London Metal Exchange, the ton of cobalt is trading at 72,000.00 USD as of June 15, 2022.
According to industry experts, the fall in cobalt prices is the indirect consequence of the confinements in China.
As of June 10, standard-grade cobalt prices, like alloy-grade cobalt prices, ranged between USD 35.80 and USD 36.50 per kilogram.
Since surging around USD 40 per kilogram in May, their highest level in 4 years, prices for both qualities have continued to fall, penalized by lower offers from Asia .
Cobalt has the particularity of having a high melting point and of retaining its resistance as well as its magnetic properties even when subjected to high temperatures.
This therefore makes it an essential element for many strategic fields, such as aerospace, defence, chemistry, etc.
However, cobalt owes its current visibility to its growing use in low-carbon technologies, also called green technologies (renewable energies and rechargeable batteries): it is present in particular in the magnets of wind turbines, but also and above all in the cathodes of batteries. lithium-ion and nickel metal hydride batteries used in electric or hybrid vehicles.
