Calling for Global Cobalt Players - Cobalt Congress 2025 Kicks off in Singapore soon May 14-15

Cobalt has turned into a major mineral for the world's economy. It plays a big role in making batteries for electric vehicles (EVs). Africa holds an important spot in the global cobalt scene. It supplies a huge chunk of this valuable resource.

On February 24, 2025, the Democratic Republic of Congo (DRC), the world's largest cobalt supplier, announced a four-month suspension of cobalt exports to address the persistent decline in cobalt prices due to oversupply in the international market. The policy took effect on February 22 and is scheduled for a three-month review to assess its impact and decide on potential adjustments. Since its announcement, this policy has garnered worldwide attention and ignited enthusiasm in the cobalt product market. According to SMM prices, as of March 14, the prices of all cobalt products have seen significant increases. Specifically, the cumulative price increase for cobalt sulfate, cobalt chloride, and cobalt intermediates has exceeded 80%. Why Did This Ban Attract So Much Attention? .....

In this blog, we touch on the most recent trends in demand for lithium, cobalt, and nickel-what the future might hold for the electric vehicle market in 2025-and go through the latest data from industry leading resources such as SMM for vital price, market condition, and demand forecasts of these metals.

The fluctuating price of cobalt has significant implications for various industries, making it essential to understand the underlying dynamics that affect its value. Below, we delve into the critical aspects that drive the market, specifically focusing on supply and demand and the role of market speculation and investor influence.

Cobalt is a vital component in the production of lithium-ion batteries for electronic devices and electric vehicles (EVs), making it a significant element in the modern economy. The global cobalt market revenue is projected to grow from 39.012 billion USD in 2019 to 53.183 billion USD by 2025, reflecting a compound annual growth rate (CAGR) of 5.3% for the period 2020-2025. This growth is driven by the increasing demand for sustainable energy solutions and the essential role cobalt plays in high-capacity batteries. The cobalt market is influenced by supply and demand dynamics, technological advancements, and economic and political factors. The Democratic Republic of Congo (DRC) is a major contributor to global cobalt production, accounting for about 60% of the supply. Technological progress in battery technology and the rise of EVs have increased reliance on cobalt, thereby driving up its market demand and price. Analyzing historical cobalt price trends and applying forecasting methods are crucial for predicting future prices. Basic forecasting involves examining historical data, while advanced models use machine learning and artificial intelligence (AI) to predict price movements with greater accuracy. Free resources and tools, such as those provided by financial institutions and industry publications, offer valuable market analyses and forecasts. Metal.com, a leading global non-ferrous metal electronic trading platform, offers real-time price information, logistics services, and financial services to facilitate safer and more transparent transactions in the cobalt market. As the demand for cobalt rises, stakeholders must prepare for market volatility and make informed decisions based on a comprehensive understanding of supply dynamics, technological changes, and economic factors.

Cobalt, an important element of modern industry, has a price fluctuation that affects the market. Changes in supply and demand, market expectations, the global economic situation and investor behavior are all key factors affecting the price of cobalt. Unique applications such as batteries, cemented carbide and magnetic materials also have a profound impact on cobalt prices. The SMM website is always committed to providing timely and accurate cobalt market data to help you understand the market dynamics and grasp investment opportunities.