Market Analysis: Lithium and Cobalt | S&P Global Market Intelligence

Lithium carbonate and cobalt metal prices both declined in June due to continued demand weakness, according to our July issue of the Lithium and Cobalt Commodity Briefing.

S&P Global Market Intelligence forecasts global passenger plug-in vehicle sales to decline by 5.8% year over year in 2020 to 2.07 million units, as higher European Union sales cushion the decline in China.

The lithium carbonate CIF Asia price temporarily increased by US$450 per tonne in May to US$8,850/t, as producers raised export prices as coronavirus fears started to ease. But prices declined again in June to US$8,500/t due to suppressed demand in Asia.

From mid-March to early June, cobalt prices were supported by concerns over the stability of African supply. The London Metal Exchange cobalt price began declining again mid-June and fell to US$12.90 per pound July 15, as demand weakness concerns returned and as some cobalt shipments made their way to China.

For a complete analysis of lithium and cobalt market dynamics and forecasts, download our latest monthly report.

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REPORT: Outlooks for Lithium and Cobalt

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