![]() Not more than 65% of the Union's annual consumption of each strategic raw material at any relevant stage of processing from a single third country.At least 15% of the EU's annual consumption for recycling,.At least 40% of the EU's annual consumption for processing,.At least 10% of the EU's annual consumption for extraction,.The Regulation sets clear benchmarks for domestic capacities along the strategic raw material supply chain and to diversify EU supply by 2030: On March 16, the European Commission announced:Ĭritical Raw Materials: ensuring secure and sustainable supply chains for EU's green and digital future. On March 8, Euractiv reported: "LEAK: EU Commission wants 10% of critical raw materials mined in Europe." He expects prices to average $54,840 a tonne this year and $50,320 in 2024, compared with $63,739 last year. Liberum analyst Tom Price.forecasts a cobalt market surplus of 5,570 tonnes in 2023 and 4,315 tonnes in 2024. Global supplies of refined cobalt used in the rechargeable batteries that power electric vehicles are expected to surge to around 210,000 tonnes this year, up 24% from 2022, while demand is forecast to rise 8% to 205,000 tonnes in 2024. Soaring supplies of battery material cobalt from the Democratic Republic of Congo will swamp the market creating a surplus and putting prices under more pressure this year and next, even though demand is expected to rise. While its exports were blocked in mid-July, CMOC’s Tenke Fungurume mine has kept running at close to full capacity, simply stockpiling the extra metal until it can resume shipments, according to people familiar with the matter.Ĭobalt supplies to swamp market, pressure prices further. Trend Investing v IEA demand forecast for EV metals ( Trend Investing) ( IEA)Ģ021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 - Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, And Copper 2x to 3xĢ022 - BMI forecasts we need 330+ new EV metal mines from 2022 to 2035 to meet surging demand - 62 new 5,000tpa cobalt mines (drops to 38 if include recycling)Ī $1.5 billion hoard of copper and cobalt is piling up in Congo.The huge stash of metal is owned by China’s CMOC Group Ltd, which is locked in a dispute with its Congolese state-owned partner over royalty payments. ![]() Ĭobalt spot prices - 5-year chart - USD 15.20 ( source)īMI 2022 forecast for cobalt - Deficits building starting from 2024 More details on cobalt pricing (in particular the more relevant cobalt sulphate), can be found here at Benchmark Mineral Intelligence or Fast Markets MB. LME Cobalt inventory is 134 tonnes, down from the 143 level from last month. Cobalt price newsĪs of March 24, the cobalt spot price was at US$15.20/lb, down from US$15.88/lb last month. The past month saw a fairly slow month for news as cobalt prices sank lower. Welcome to the March 2023 cobalt miners news. ![]()
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