The impact of soaring cobalt prices on the cost of lithium batteries

Cobalt is mainly used for ternary lithium battery as anode material, which can be improved significantly the energy intensity of lithium battery. According to the data of Energy Trend, cobalt price is changed from $32 / kg in early 2017 to $95 / kg by the end of the year. The growth rate is 114%; The cobalt price increased 26% in the first quarter of 2018.The industry people think that this round of price rising in the short term can lead to lithium battery rising cost by 3-4%.

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