DUBLIN, May 16, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global and China Cobalt Industry Report, 2017-2021" report to their offering.
In 2017, the global cobalt supply and demand structure will be reversed, with the supply gap of 3,320 tons, because: First, in recent years, the cobalt price has been hovering at a low level, some cobalt mines have reduced or ceased production, and no large cobalt mines have been put into production, resulting in the slowdown of the cobalt supply. Second, the cobalt metal demand has soared quickly as the demand for new energy vehicles continues to grow. It is expected that the global cobalt market will face a tight supply situation in 2017-2021, with the gap of 12,000 tons by 2021.
Affected by the market supply and demand pattern, the prices of cobalt and cobalt products at home and abroad have been rising since July 2016. Till early March 2017, the prices of MB cobalt (high grade) and MB cobalt (low grade) jumped by more than 125% and 117% to USD25.13 / lb and USD23.73 / lb respectively. As the contradiction between supply and demand becomes increasingly prominent, the cobalt price will keep swelling in 2017, but with the relatively low growth rate.
China is the world's largest producer of refined cobalt, with the output of 63,000 tons and holding a global share of 58.6% in 2016; the output is expected to grow to 72,500 tons in 2017. Also, China is the largest consumer of cobalt around the globe, and the consumption increased by 5.3% year on year to 45,800 tons in 2016, accounting for 44.1% of the global total. In 2017-2021, the consumption will keep an AAGR of at least 12%. By 2021, China's consumption of refined cobalt is expected to exceed 80,000 tons, mainly thanks to the fast-growing new energy vehicle and lithium battery markets.
At present, battery material is a sector where cobalt finds most application in China, accounting for 76.6% in 2016 and potentially 79.0% in 2021.
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
- Beijing Easpring Material Technology
- Chengdu Huaze Cobalt&nickel Material Co., Ltd
- Glencore Xstrata
- 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
For more information about this report visit http://www.researchandmarkets.com/research/85jq4k/global_and_china
Laura Wood, Senior Manager
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SOURCE Research and Markets