Global and China Cobalt Industry Report, 2018-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 9, 2018--The “Global and China Cobalt Industry Report, 2018-2023” report has been added to ResearchAndMarkets.com’s offering.
Cobalt, an essential raw material for lithium batteries, is widely used in electric vehicles as well as computer, communication and consumer electronics. 59% of cobalt was used in lithium batteries globally and even up to 77.4% in China in 2017. The cobalt for the battery will see a rising proportion in future, expected to surpass 62% globally and 81% in China in 2023.
Due to an upsurge in the demand from downstream sectors like smartphones and electric vehicles (EV), global cobalt prices have been on the rise since 2016, doubling in 2017 and peaking at USD43.7/pound in late April 2018. Despite a decline in the second quarter of 2018, the cobalt prices are more likely to climb in the future, as the demand remains strong while the supply is limited.
Cobalt metal is derived from cobalt ore and refined cobalt. Nearly 60% of cobalt ore is contributed by Democratic Republic of the Congo, a country that promulgated a new mining law in March 2018 in which cobalt is classified as strategic metal and windfall profits tax and royalties are planned to be imposed on enterprises. The measures will affect the global supply of cobalt and the price trend.
Nearly 98% of cobalt needs to be imported in China. Chinese enterprises invest in cobalt mines and participate in cobalt smelting projects in Democratic Republic of the Congo so as to obtain stable cobalt resources. For example, China Molybdenum now is the world’s second largest cobalt ore producer, only second to Glencore, by acquiring Freeport cobalt ore resources.
China is a major cobalt smelting country in the world with refined cobalt output of 70kt in 2017, 59.5% of the global total, nearly 80kt in 2018 and estimated over 110kt in 2023. At the same time, the country’s cobalt consumption will increase from 59kt in 2017 to around 98kt in 2023.
Key Topics Covered:
1. Cobalt Overview
2. Status Quo of Global Cobalt Market
3. Cobalt Market Development in China
4. China’s Import and Export of Cobalt by Product
5. Demand of Main Cobalt Downstream Industries
6. Major Global Cobalt Manufacturers
7. Major Chinese Cobalt Producers
Companies MentionedBeijing Easpring Material Technology China Molybdenum Co., Ltd. Freeport Ganzhou Tengyun Cobalt New Material Co.,Ltd Glencore Xstrata Guangdong Jiana Energy Technology Co., Ltd. Guangdong Silver Hanrui Cobalt Huayou Cobalt Jiangxi Jiangwu Cobalt Co., Ltd. Jiangxi Jiangwu International Nickel and Cobalt New Materials Co., Ltd. Jiangxi Jiangwu Nickel and Cobalt New Materials Co., Ltd. Jiangxi Rare Metal Tungsten Industry Holding Group Co., Ltd. Jinchuan Group Co., Ltd. Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd. Ramu Nico Management (Mcc) Limited Shandong Jinling Mining Shenzhen Green Eco-manufacture Hi-tech Sherritt International Tianjin Maolian Technology Co., Ltd Umicore Vale
For more information about this report visit https://www.researchandmarkets.com/research/3m3jbr/global_and_china?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181109005417/en/
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Related Topics:Non Ferrous Metals
KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: NATURAL RESOURCES MINING/MINERALS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/09/2018 11:21 AM/DISC: 11/09/2018 11:21 AM