Cobalt prices plunge as EV makers turn to nickel-based batteries
Cobalt, a key metal in making electric vehicles (EV) batteries, will likely be under pressure in 2023 faced with competition from nickel-based lithium-ion batteries, estimates of surplus supply and projections of slack demand from the electronic sector. According to the Trading Economics Website, cobalt prices have declined by over 31 per cent since the beginning of […]
Cobalt’s battery-powered boom in 2022 on EV demand surge busts
A blistering rally in the cobalt market is turning into a rout, putting pressure on miners and offering tentative cost relief for carmakers after a surge in battery metal prices last year. Cobalt rallied sharply early in 2022 as demand for electric vehicles surged. But while automotive […]