Cobalt is being added to our coverage of industrial metals from today. The price of cobalt is barely a quarter of the highs seen in March 2008, which might suggest that there is plenty of upside if the global economy continues to recover. But the key driver of the price is likely to be a boom in supply, which is set to outpace demand. We therefore expect the cobalt price to continue to fall, from $25,500 to $22,000 per tonne (around $10 per pound) by the end of this year, as new mines come on stream.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.