Cobalt Salt Price Review over 2021-2022

SHANGHAI, Feb 8 (SMM) - From 2021 to now, the cobalt salt prices have been on a roller coaster.

In 2021, the remote working induced by the covid-19 lockdowns stoked the demand for electronics. At the same time, the demand for NEVs picked up rapidly in the second half of 2021 after being subdue by the pandemic. Therefore, the cobalt salt prices started to surge on the way.

In 2022, the lack of momentum in the electronics consumption caused the demand for cobalt to drop sharply. The widespread of covid-19 in Q2, and the soaring nickel prices weighed heavily on the demand for ternary batteries. As as result, the cobalt salt prices tumbled, and the demand for cobalt also declined. However, the capacity of top-tier cobalt mines continued to be put into production, and the recycling cobalt volume also rose at a surprising speed.

In the end, the supply surplus has hurled the cobalt salt prices into a downward trend.