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FortuneJimon Feb 27, 2018 1:03pm
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Today’s Fortune Cobalt News
Today’s Fortune Cobalt News | |
| Click on blue article title to read full story. | | | | Cobalt | | | | Unknown - February 27, 2018 Cobalt prices made further gains last week, but the rally was kept in check by buyers able to satisfy some of their requirements by purchasing scrap and pulling forward contracted volumes. High-grade cobalt prices rose to $38.50-39.40 per lb on Friday…Cobalt prices have risen steadily since the beginning of the year, as a result of tight supplies and strong downstream demand from the aerospace and medical sectors, as well as electric vehicle production…"We cannot detach this run up from the electric vehicle story. There is less and less metal available and the underlying demand is incredibly robust," a trader said. | | South China Morning Post - Online - February 26, 2018 HSBC Asset Management favours Chinese commodity stocks, based on strong government reforms "Demand remains supported for copper, lithium, cobalt and nickel which are all part of the growth story around the battery powered EVs (electric vehicles), in line with China's aims to make the industry more environmentally friendly," Tivey said…Tivey said the government was likely to continue to allow well-managed, state-owned and provincial government enterprises to invest strategically, albeit in a more disciplined manner. | | Bloomberg - February 26, 2018 Franco Nevada Chairman, Pierre Lassonde, discusses mining opportunities and cobalt used in electric vehicles. He speaks with Danielle... Nevada Chairman, Pierre Lassonde, discusses mining opportunities and cobalt used in electric vehicles. He speaks with Danielle Bochove at Click on article title to view video | | | | | EVs | | | | Pulse by Maeil Business News - February 27, 2018 South Korea’s top battery maker LG Chem Ltd. struck a deal with India’s Mahindra Group to supply lithium-ion batteries that would power the...... company said Monday it will develop high-intensity batteries based on nickel, cobalt and manganese cathode materials for Mahindra & Mahindra The Korean company said Monday it will develop high-intensity batteries based on nickel, cobalt and manganese cathode materials for Mahindra & Mahindra, an automobile unit in Mahindra Group that also owns South Korea’s fourth largest automaker Ssangyong Motors...Mahindra recently announced a plan to build a plant capable of producing 500,000 battery modules a year. It also aims to install production lines for battery packs that will go fully operational in the first quarter of 2020…Demand for EV batteries in India is expected to rise sharply in the coming years as the government pledged last year to rid the country’s roads of petrol and diesel cars and go 100 percent electric by 2030. | | Argus Media - February 26, 2018 China's EV output surges ahead of subsidy changes Beijing, 26 February (Argus) — Chinese production of electric and hybrid vehicles soared...... Chinese production of electric and hybrid vehicles soared in January to meet high demand from consumers before revisions to the subsidy system designed to support the development of more expensive, longer-range models Domestic electric and hybrid vehicle output surged by 488pc year on year to 40,569 units in January on a 374pc rise in pure electric vehicles to 27,802 units…The subsidy for vehicles with a range of over 450km will rise to Yn50,000 from Yn44,000 and the subsidy for 300-400km vehicles will be raised by Yn1,000 to Yn45,000….Growth in the sector is supporting demand for battery metals nickel, cobalt, manganese and lithium. | | Reuters US News - February 25, 2018 ISTANBUL (Reuters) - Turkey’s Zorlu Holding has signed an agreement with Chinese investment firm GSR Capital for investments in battery... Turkey’s Zorlu Holding has signed an agreement with Chinese investment firm GSR Capital for investments in battery production totaling $4.5 billion until 2023, Zorlu’s chief executive said on Sunday …Zorlu, and GSR Capital would work together to each build 50 percent of a “mega battery factory” of 25,000 megawatt (MW) capacity. “We are looking for opportunities to build a mega battery production factory on a 300,000 square meter area,” Yungul said…“We aim for our battery production to start in 2018 and become active after completion in 2023,” he said, adding the factory would provide batteries for 500,000 automobiles…GSR Capital will also be a 50 percent partner of Zorlu’s Meta Nikel nickel-cobalt factory, Yungul said, adding the move would increase capacity from 10,000 tonnes to 40,000 tonnes | | | | |