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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":741,"relatedVideos":742},112469762839990,"68aeef76-97ec-4e7d-b758-eb2fad9ee3be","Cobalt prices remain steady in March as cathode makers ease restocking inventories","cobalt-prices-remain-steady-in-march-as-cathode-makers-ease-restocking-inventories","article/cobalt-prices-remain-steady-in-march-as-cathode-makers-ease-restocking-inventories",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":721,"featured":51,"reporter":722,"_editable":726,"component":727,"seo_title":543,"categories":728,"visibility":734,"author_company":49,"featured_image":735,"seo_description":721,"author_full_name":49,"author_job_title":49,"formattedDate":739,"formattedArticleDate":740},"db474113-2d69-4de2-8048-7811a1b6adfb","2024-04-03 00:00",[550,553],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"cobalt-prices","Cobalt prices",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,586,591,612,617,622,633,654,659,668,675,686,691,701,706,711,716],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573,576,584],{"text":574,"type":575},"Chinese cobalt sulphate prices held steady in March despite midstream demand slowing in the second half of the month after ","text",{"text":577,"type":575,"marks":578},"cathode makers",[579],{"type":580,"attrs":581},"link",{"href":582,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/cathode-prices-rise-in-march-as-tier-1-producers-increase-orders","url",{"text":585,"type":575}," eased restocking of nickel-cobalt-manganese (NCM) cathode inventories.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"Cobalt sulphate prices in China reported their first rise this year in early March due to an increased demand for NCM materials from Tier 1 cell suppliers for high end electric vehicle models, a move that pushed cathode makers to restock inventory.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594,596,602,604,610],{"text":595,"type":575},"Chinese cobalt sulphate ",{"text":597,"type":575,"marks":598},"prices",[599],{"type":580,"attrs":600},{"href":601,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/cobalt-prices-stage-mild-recovery-in-october-as-seasonal-demand-improves",{"text":603,"type":575}," remained flat at RMB 32,500 ($4,485) per tonne for the assessment period ended April 2, according to the ",{"text":605,"type":575,"marks":606},"Benchmark Cobalt Price Assessment",[607],{"type":580,"attrs":608},{"href":609,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://www.benchmarkminerals.com/price-assessments/cobalt/chart/",{"text":611,"type":575},". Chinese cobalt sulphate prices are now up 1.6% so far this year but have fallen 21% year-on-year.",{"type":570,"attrs":613,"content":614},{"textAlign":49},[615],{"text":616,"type":575},"“Price increases in the first quarter were driven by restocking from Tier 1 cell suppliers for high end electric vehicle models,” said Roman Aubry, analyst with Benchmark. A bulk of battery demand for cobalt comes from NCM cathode materials.",{"type":570,"attrs":618,"content":619},{"textAlign":49},[620],{"text":621,"type":575},"“However, as stocking has completed, the rise has stalled and the oversupply is looming again,” Aubry added. ",{"type":570,"attrs":623,"content":624},{"textAlign":49},[625,627],{"text":626,"type":575},"Cobalt supplies are expected to remain in surplus this year and enter an era of deficit from 2027 onwards, according to the ",{"text":628,"type":575,"marks":629},"Benchmark Cobalt Forecast.",[630],{"type":580,"attrs":631},{"href":632,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://www.benchmarkminerals.com/forecasts/cobalt/reports/",{"type":570,"attrs":634,"content":635},{"textAlign":49},[636,638,644,646,652],{"text":637,"type":575},"While ",{"text":639,"type":575,"marks":640},"lithium",[641],{"type":580,"attrs":642},{"href":643,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/chinese-lithium-prices-climb-higher-in-early-march-on-improving-downstream-demand",{"text":645,"type":575}," and ",{"text":647,"type":575,"marks":648},"nickel prices",[649],{"type":580,"attrs":650},{"href":651,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/chinese-nickel-price-drop-pauses-as-cathode-makers-top-up-inventory",{"text":653,"type":575}," have rebounded in recent weeks amid an uptick in orders from large cell makers, the increases for cobalt were softer in March as cathode makers had enough cobalt inventories compared to nickel. ",{"type":570,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":575},"“On the battery side, we can see that prices can recover even when the market as a whole is massively oversupplied, provided demand is strong,” said Aubry.",{"type":570,"attrs":660,"content":661},{"textAlign":49},[662],{"type":663,"attrs":664},"image",{"id":49,"alt":665,"src":666,"title":49,"source":49,"copyright":49,"meta_data":667},"","https://a.storyblok.com/f/287943243085208/a5b16a52d4/bm-chinese-cobalt-sulphate-prices-ed-1.png",{},{"type":669,"attrs":670,"content":672},"heading",{"level":671,"textAlign":49},4,[673],{"text":674,"type":575},"Feedstock prices hit on brakes",{"type":570,"attrs":676,"content":677},{"textAlign":49},[678,680,684],{"text":679,"type":575},"Prices for cobalt hydroxide, the most commonly traded cobalt feedstock material, retreated during the assessment period. CIF Asia cobalt hydroxide prices fell 1.1% to $7.05 per pound but are up 8.5% so far this year, according to the ",{"text":605,"type":575,"marks":681},[682],{"type":580,"attrs":683},{"href":609,"uuid":49,"anchor":49,"target":49,"linktype":583},{"text":685,"type":575},". ",{"type":570,"attrs":687,"content":688},{"textAlign":49},[689],{"text":690,"type":575},"This is the first time this year that hydroxide prices did not increase after a gradual climb from the floor of $6.50 per pound at the end of 2023. A bulk of the increases were a result of price discipline by producers who were struggling with a significant oversupply of hydroxide. ",{"type":570,"attrs":692,"content":693},{"textAlign":49},[694,696,700],{"text":695,"type":575},"Prices for EXW Europe cobalt metal remained flat at $13.88 per pound during the assessment period and are down 4.8% so far this year. The market is still very vulnerable to temporary supply issues, particularly from metal producers outside of China, according to the ",{"text":605,"type":575,"marks":697},[698],{"type":580,"attrs":699},{"href":609,"uuid":49,"anchor":49,"target":49,"linktype":583},{"text":685,"type":575},{"type":570,"attrs":702,"content":703},{"textAlign":49},[704],{"text":705,"type":575},"“While the European market is less exposed to this, the US market can see some significant price fluctuations if even a single producer slows production or doesn’t have material available for the spot market,” said Aubry.",{"type":669,"attrs":707,"content":708},{"level":671,"textAlign":49},[709],{"text":710,"type":575},"SRB stockpiling rumours",{"type":570,"attrs":712,"content":713},{"textAlign":49},[714],{"text":715,"type":575},"China’s State Reserve Bureau (SRB) is rumoured to buy more cobalt metal in the coming days, a move that could drive up prices. The SRB typically waits to restock until market prices are near or at their floor.",{"type":570,"attrs":717,"content":718},{"textAlign":49},[719],{"text":720,"type":575},"“Provided there are no additional changes to demand, prices are likely to stabilise,” said Aubry, adding that if the rumours of SRB buying cobalt metal in China in the next few months materialise, prices could move higher.","Chinese cobalt sulphate prices held steady in March despite midstream demand slowing in the second half of the month after cathode makers eased restocking of nickel-cobalt-manganese (NCM) cathode inventories. Cobalt sulphate prices in China reported their first rise this year in early March due to an increased demand for NCM materials from Tier 1 cell […]",[723],{"slug":558,"name":559,"content":724},{"job_title":561,"image":725,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"db474113-2d69-4de2-8048-7811a1b6adfb\", \"id\": \"\"}-->","article",[729,731],{"slug":730,"name":115},"cobalt",{"slug":732,"name":733},"critical-minerals","Critical Minerals","private",{"id":49,"alt":665,"name":665,"focus":665,"title":665,"source":665,"filename":736,"copyright":665,"fieldtype":737,"meta_data":738,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/609b8999df/bm-price-update-4.png","asset",{"alt":665,"title":665,"source":665,"copyright":665},"Apr 03, 2024","3rd April 2024",[],[],1780500952007]