As we have noted previously, nickel prices have skyrocketed. The Russia-Ukraine war could also have an impact on cobalt by way of nickel. Prices jumped from around $71,000 per metric ton a month ago. LME cobalt prices reached over $82,000 per metric ton last week, LME data show. Like a number of other commodities, cobalt prices have surged over the last month. “This builds upon Redwood’s recent announcements including a joint venture with Ford to build a recycling facility in Tennessee and its intention to begin construction on a new cathode manufacturing facility in Nevada in 2022.” Cobalt prices gain

“Redwood Materials will discuss a pilot, in partnership with Ford and Volvo, for collection and recycling of end-of-life lithium-ion batteries at its Nevada based facilities to extract lithium, cobalt, nickel, and graphite,” the White House said. The White House last month announced a number of ventures aimed at strengthening domestic supply chains for critical minerals. government is moving to strengthen its supply chains for critical minerals.Ī majority of the world’s cobalt is mined in the Democratic Republic of the Congo, where substandard labor conditions (including the use of child labor) have led several NGOs to raise supply chain ethics concerns of cobalt sourcing.Ĭobalt finds applications in a number of high-tech cases, from cellphones and computers to electric vehicles. US supply chains and rare earthsĪs we noted in the Rare Earths MMI, the U.S. Keep an eye on the MetalMiner weekly newsletter for analysis of everything going on in the world of metals. government last month announced a number of efforts aimed at strengthening domestic supply chains for critical minerals.

The Renewables Monthly Metals Index (MMI) picked up by 6.0% for this month’s reading, as cobalt prices picked up and the U.S. Renewables/GOES MMI: Cobalt prices rise US aims to strengthen supply chains for critical minerals