As cobalt crash bottoms out, supplies expected to keep prices in check for EV Batteries

Cobalt’s near yearlong price slide is finally ending, but high inventories of the battery metal will keep prices from quickly reclaiming 2018’s 10-year highs.

London Metal Exchange prices have crashed to two-year lows of $32,000 a ton compared with levels near $100,000 in the first half of 2018.

The drop was sparked by rising supplies from the artisanal and industrial sectors in the Democratic Republic of Congo and a surplus of cobalt chemicals, used to make rechargeable batteries to power electric vehicles.