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Winners and losers in the energy transition

Cobalt Market Forecast and Cobalt Stocks to Buy in 2021

Cobalt Market Update The main driver in the cobalt market is the EV industry, as the metal is essential in batteries. But the coronavirus has hit the space hard, with many changing forecasts since the start of the year. Wood Mackenzie was previously expecting EV sales growth of 20 percent year-on-year in 2020, but the firm is now looking at a contraction of up to 40 percent, Gavin Montgomery, research director, battery raw materials, told the Investing News Network (INN). “We had projected the cobalt market to be relatively balanced this year as the excess stocks that characterized 2019 started to ease off, plus we have Glencore’s (LSE:GLEN) Mutanda mine offline this year. Now we see the market contending oversupply again as all end-use sectors are impacted.”

Future Energy – How Electric Vehicles Transform Battery Demand

Cobalt Trends 2020: EV Makers Still Need Cobalt

What happened in the cobalt market this year? Here’s a look at the major cobalt trends in 2020, from prices to electric car demand. Click here to read the previous cobalt trends article. It was another interesting year for cobalt, which like many other metals saw its supply chain being challenged by the coronavirus pandemic.  As 2020 comes to a close, the Investing News Network (INN) is looking back at the main trends in the space, from COVID-19 to discussions about rising electric vehicle (EV) demand and responsible sourcing. Read on to learn what happened in the cobalt market in 2020, including supply and demand dynamics and what market participants had to say during each quarter of the year.