CBLT

Cobalt is a high strength magnetic metal with a diverse range of important uses in products from rechargeable batteries to aircraft engines, and it is expected to be at the leading edge of the search for alternative and renewable energy systems. This versatile metal has been recognized as strategically important by both the US and European Union has been trading on the London Metal Exchange (LME) since 2010.Cobalt is critical for manufacturing high performance rechargeable batteries that are use... d in portable electronics, electric vehicles and stationary power storage applications. In the mid 1990’s, only 1% of cobalt demand was from its use in rechargeable batteries for electronics. However, the growing importance of lithium-ion and nickel metal hydride batteries in smartphones and other electronic devices contributed to the demand for cobalt in rechargeable batteries surpassing its use in superalloys sector for the first time in 2007. Rechargeable batteries have since been the largest end use of cobalt, accounting for 49% of cobalt demand in 2015. Battery sector cobalt demand grew by 12% in 2015 and double digit growth is anticipated for the foreseeable future as major economies continue to diversify from carbon-based energy systems and vehicle electrification advances.More