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Renewables/GOES MMI: Cobalt prices dips in Q2 after Q1 surge

Renewables Monthly Metals Index (MMI) dipped by 0.8% for this month’s index reading.
The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.
(Editor’s note: This report also includes the MMI for grain-oriented electrical steel, or GOES.)
Cobalt price falls
Earlier this year, the LME cobalt price surged as high as nearly $53,000 per metric ton.
As Stuart Burns noted last month, battery demand helped drive up the cobalt price in the first quarter.
However, the second quarter has been a different ballgame.
The LME cobalt price closed Monday at $42,500 per metric ton, or down approximately 20%. ....

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