Cobalt's Unexpected Plunge Shocks Global Market

Via Metal Miner Analysts once hailed cobalt as a commodity whose price would rise forever. Used in the cathodes of many lithium-ion batteries to extend the life of the battery cell, investors and mine operators eagerly anticipated high returns on all cobalt investments. However, cobalt prices recently dropped to record lows amid global oversupply and a widespread slowdown in the battery market. Suddenly, those same traders and mine companies are scratching their heads. Most of the world’s cobalt supply originates from the Democratic Republic…