Cobalt prices have fallen 30% to between CNY285,000 per mt ($ 38,300 ) and CNY285,000 per mt , due to a long-term supply glut, as well as consolidation and an ending of subsidies in the Chinese electric vehicle sector. Cobalt prices stood at 257,000 yuan ($38,300) to 285,000 yuan last week, down about 60% from their recent peak. Major cobalt manufacturers Glencore , China Molybdenum and Huatai Securities are planning to ramp up output this year , with 30% set to be added to the 2021 global supply figure of 145,400 tons . Huatai Securities predicted the glut would last into 2018 , before the market tightened again.
Cobalt prices have fallen 30% to between CNY285,000 per mt ($ 38,300 ) and CNY285,000 per mt , due to a long-term supply glut, as well as consolidation and an ending of subsidies in the Chinese electric vehicle sector. Major cobalt manufacturers Glencore , China Molybdenum and Huatai Securities are planning to ramp up output this year , with 30% set to be added to the 2021 global supply figure of 145,400 tons . Huatai Securities predicted the glut would last into 2018 , before the market tightened again.