RE:Cobalt demand in batteries increased by 10k tonnes per year(1) Darton refined cobalt supply after Mutanda closure is forcasted at:
2020: 118,350 tonnes
2021: 128,150 ronnes
(2) Refined cobalt demands are forcasted at:
2020: 77,000 + 64,000 = 141,000 tonnes
2021: 90,000 + 66,000 = 156,000 tonnes
(3) Cobalt shortage at:
2020: 141,000 - 118,350 = 22,650 tonnes
2021: 156,000 - 128,150 = 27,850 tonnes
Cobatlt inventory should be able to meet the deficit of 22,650 tonnes in 2020. But, next year, a cobalt deficit of about 27,850 tonnes should drive the cobalt price high.