Katanga Mining Ltd Ord KATFF

Cobalt Market

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While long-term cobalt demand looks healthy - Glencore noted earlier this month that it was not considering the sale of its African copper-cobalt assets - it had been expected that the cobalt surplus would not be absorbed until 2023-2024, according to Fastmarkets’ battery raw materials research team. The cobalt market is now likely to swing back into balance in 2021 given the looming closure at Mutanda, Fastmarkets analysts say. 

“We see the refined market remaining in a surplus next year, but the stock drawdown will be very constructive and that should support prices later next year and then meaningfully in 2021,” Adams added. 

https://www.metalbulletin.com/Article/3889862/Cobalt/FOCUS-Chinas-skepticism-of-Mutanda-closure-characteristic-of-short-term-procurement-strategy.html