#Reuters: #ElectricCars prompt explore #Cobalt sulphate index

Image result for Cobalt sulfate & electric car

Prices for #Cobalt sulphate are often based on those for refined metal published by Metal Bulletin. The #London Metal Exchange’s cobalt contract is also for refined metal.

But demand for cobalt sulphate is expected to outpace that for the metal over coming years as governments around the world move to replace diesel- and petrol-powered engines with batteries to meet targets for cutting vehicle emissions.

A cobalt trader said sulphate prices earlier this year were trading at a premium of more than $5 a lb to the metal, which started the year around $14 a lb and has since more than doubled to nine-year highs above $30 a lb.

Read more at: https://www.reuters.com/article/us-cobalt-pricing-evs/electric-cars-prompt-consultants-cru-to-explore-cobalt-sulphate-index-idUSKBN1CB1MF

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