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Home / Metal News / Global Cobalt Demand Jumped Driven By Electric Vehicles

Global Cobalt Demand Jumped Driven By Electric Vehicles

May 12, 2023 13:34

On May 10, the UK-based Cobalt Institute released data showing that global cobalt production stood at 198,000 mt in 2022.

In 2022, global cobalt demand increased by 13% to 187,000 mt. The demand from the electric vehicle industry was the strongest, standing at 74,000 mt, and accounting for nearly 40% of total demand.

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Market review

Output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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Yesterday, low-sulfur coking coal in Lvliang, Shanxi was quoted at 2,100 yuan/mt, while the quotation was 2,400 yuan/mt in Linfen and 2,100 yuan/mt in Tangshan.

Oct 8, 2023 15:36

Industry

Short-term Coke Market Is Expected To Remain Stable

Silicon Wafer Price Plummet Amid Mounting Inventory Pressure

This week, the prevailing price for domestic M10-182mm monocrystalline silicon wafers was 3.08- 3.10 yuan/piece, and for 210mm monocrystalline silicon wafers, it was 4.08-4.10 yuan/piece.

Sep 28, 2023 19:41

Industry

Data: SHFE, DCE market movement (Sep 26)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 26, 2023

Sep 26, 2023 15:31

Analysis

Data: SHFE, DCE market movement (Sep 26)

SMM Lead Morning Comments

LME lead prices opened at $2,205/mt overnight with the low-end of $2,163/mt. LME lead finally closed at $2184.5/mt, down 1.09%.

Sep 22, 2023 09:55

Industry

Guangdong Zinc: Premiums Continued To Fall Sharply

#0 zinc in Guangdong was traded at 21815~21900 yuan/mt today.

Sep 21, 2023 14:17

Industry

Spot Premiums of Zinc In Tianjin Were Firm

In Tianjin, #0 zinc ingot was mostly traded at 22100~22340 yuan/mt, Zijin zinc 22180~22380 yuan/mt, and Huludao zinc 26820 yuan/mt.

Sep 21, 2023 14:17

Industry

PV glass production increased as rising profits drove producers to ramp up production

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Sep 20, 2023 13:52

Industry

SMM daily comment on domestic HRC market (Aug 30)

HRC futures fluctuated and closed at 3,870 yuan/mt today, an increase of 0.39%.

Aug 30, 2023 19:58

Industry

SMM daily comment on domestic HRC market (Aug 30)

World alumina production in July’23 grows above 12 MT, with daily output improving by 1%

In July 2023, the world alumina production saw a month-on-month rise of 4.32 per cent to reach 12.179 million tonnes, found the International Aluminium Institute (IAI).

Aug 30, 2023 19:41

Industry

World alumina production in July’23 grows above 12 MT, with daily output improving by 1%

Domestic Output of Didymium Oxide in January 2023 Rallied across the Board

Domestic output of didymium oxide in January 2023 stood at 5,622 mt, up 9.5% MoM. Output increased across Fujian, Guangdong, Guangxi, Jiangxi, Jiangsu and Shandong to varying degrees.

Feb 9, 2023 16:45

Analysis SMM Insight

Domestic Output of Didymium Oxide in January 2023 Rallied across the Board

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Global Cobalt Demand Jumped Driven By Electric Vehicles

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