Cobalt deficit will only grow beyond 2020eCobalt will be a good investment.
"In terms of overall demand, EVs (electric vehicles) only consumed around 6.5% of refined cobalt in 2016. This will increase to 16.9% in 2021 helping lift demand to nearly 130,000 tonnes," CRU senior consultant Edward Spencer said.
"We expect a deficit in the region of 900 tonnes this year. However, a far larger deficit could open quickly if mine and refinery capacity growth fails to keep pace."
Analysts at Macquarie Research expect deficits of 885 tonnes next year, 3,205 in 2019, and 5,340 in 2020.