Monthly futures price of cobalt worldwide 2019-2024

The futures price of cobalt ranged between 27,000 and 82,000 U.S. dollars per metric ton between August 2019 and May 2024. The impact of the COVID-19 crisis can be appreciated between March and July 2020, when cobalt futures prices dropped to around 28,500 U.S. dollars per metric ton. The first significant increase in this figure following the beginning of the pandemic was in August 2020, followed by a generalized increase throughout 2021 to the reach a peak of 81,860 U.S. dollars in March 2022. Futures vs. Spot pricesFutures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost 30 billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was 31 U.S. dollars per pound in 2022. Cobalt in battery productionCobalt is a primary component of producing batteries, particularly lithium-ion batteries, used in various electronic devices, especially electric vehicles (EVs). EV batteries require a specific amount of cobalt, while conventional vehicles do not. With an increasing demand for lithium-ion batteries in EVs as the EV industry advances, the global cobalt market volume is expected to increase continuously by 2025.

自2019年8月至2024年5月，钴的未来价格介于每公吨27,000至82,000美元之间。COVID-19危机的影响尤为显著，表现在2020年3月至7月期间，钴期货价格降至约每公吨28,500美元。疫情爆发后，钴价首次显著上涨发生在2020年8月，随后在2021年全年普遍上涨，于2022年3月达到峰值，为每公吨81,860美元。期货价格与现货价格比较而言，期货价格由期货合约确定，允许在预定价格和日期买卖商品，从而帮助投资者通过期货价格预测市场。2022年全球期货合约交易量接近3000亿。相比之下，现货价格反映了购买商品的现实成本。例如，2022年美国钴的平均现货价格为每磅31美元。钴在电池生产中的应用钴是生产电池的主要成分，特别是锂离子电池，后者被广泛应用于各种电子设备中，尤其是电动汽车（EV）。电动汽车的电池需要一定量的钴，而传统汽车则不需要。随着电动汽车行业的不断发展，锂离子电池需求不断增加，预计到2025年，全球钴市场体积将持续增长。