OK more very bullish news for cobalt. yet price still falls.
Talked to my Co trader mates -at what point do the traders start upgrading their stocks on hand? since April they have been selling them dowm, but apparently that trend is reversing now as they see a bottom. Glencore says they see the same.
several major mines stopping production or going on care and maintenance, no big new mines lining up to come on stream. (i thought there was in Indonesia no?)
EV cars keep on selling well
Column 1
0
Column 1
0
Column 1
0
Column 1
0
Column 1
0
Click on blue article title to read full story.
mce-anchor
Column 1
0
Cobalt
Column 1
0
Glencore’s Glasenberg says cobalt close to bottom after price dropFinancial Times - February 20, 2019Cobalt prices are close to a bottom and set to rise as battery makers look to secure long-term supplies to meet rising demand for electric... Cobalt prices are close to a bottom and set to rise as battery makers look to secure long-term supplies to meet rising demand for electric cars, according to Ivan Glasenberg, the chief executive of Glencore…But Mr Glasenberg said the market could be short of supply again after 2020 due to increased sales of EVs and re-stocking by battery makers…Cobalt prices have fallen by over 40 per cent over the past three months to trade between $17 and $19.30 a pound, according to Fastmarkets. Battery makers have chosen to use metal from their inventories rather than buy fresh material, according to analysts at Citi…Mr Glasenberg said there were no new major cobalt-producing mines set to come into production after 2020…“We [Glencore] post 2019 don’t have much increase and then who will be balancing? Artisanals and that depends on price. It’s limited,” Mr Glasenberg said. “The buyers are seeing this and are definitely trying to lock up tonnage.”…Glencore’s production of cobalt is expected to rise to around 57,000 tonnes of cobalt this year from 42,000 in 2018, it said on Wednesday…“We see a lot of consumers coming to us looking to lock in long-term supply,” Mr Glasenberg said.
Column 1
0
Column 1
0
ERG to put copper miner Boss on care and maintenance from end-FebruaryMetal Bulletin - February 19, 2019Global miner Eurasian Resources will place its Boss Mining copper-cobalt unit in Democratic Republic of Congo on care and maintenance at...Global miner Eurasian Resources will place its Boss Mining copper-cobalt unit in Democratic Republic of Congo on care and maintenance at the“We can confirm that technical and exploration work has started as part of a feasibility study for the construction of two processing facilities to treat [copper] oxide and sulfide ores,” a spokesman for ERG added…The decision to place Boss Mining on care and maintenance followed news last week that ERG was suspending production of copper and cobalt at Chambishi…Fastmarkets’ benchmark price assessment for standard-grade cobalt, which includes Chambishi broken cathodes, was $17.00-19.30 per lb, in-warehouse on February 15…That compared with the price for alloy-grade material at $15.90-17.95 per lb on the same day, reflecting the greater availability of cut cathodes over other forms.
Column 1
0
Column 1
0
ERG Will Halt Copper, Cobalt Output at Congo Mine This MonthYahoo! Finance - February 20, 2019(Bloomberg) -- Eurasian Resources Group Sarl will halt production at a copper and cobalt mine in the Democratic Republic of Congo, as it...shutdown at Boss Mining Sprl will curb cobalt supplies from a nation that accounts for three-quarters of global production of the metal usedEurasian Resources Group Sarl will halt production at a copper and cobalt mine in the Democratic Republic of Congo, as it considers future investment in new production methods…The shutdown at Boss Mining Sprl will curb cobalt supplies from a nation that accounts for three-quarters of global production of the metal used in rechargeable batteries. The suspension comes at a time of strained relations between Congo and investors after the nation last year introduced new taxes, including a 10 percent levy on cobalt exports…Operations are being suspended while a feasibility study is conducted on building two processing facilities to treat ores at the site, ERG said Tuesday in an emailed response to questions. Boss is running out of easier-to-refine oxide ores that can be processed and the company will have to invest in new treatment methods to exploit the remaining sulfide deposits, a person familiar with the matter said…Rival producer Glencore Plc is also considering plans to stop mining oxide ores at the Mutanda mine in Congo -- the world’s largest and richest source of cobalt. The company also plans to cut jobs at the mine…Boss exported about 24,000 tons of copper metal and 33,000 tons of cobalt concentrate in the first nine months of last year, generating revenue of about $310 million, according to Mines Ministry data. The company’s concentrate production was equivalent to about 3,300 tons of cobalt in the whole of 2018, according to Darton Commodities Ltd.
Column 1
0
Column 1
0
Glencore to cut output, jobs at copper, cobalt mine in Congo - WSJUnknown - February 20, 2019 (Reuters) - Glencore Plc is planning to cut production at one of its largest copper and cobalt mining operations in the Democratic Republic of Congo, the Wall Street Journal reportedThe company also plans to lay off about 2,000 employees, mostly contractors, at the Mutanda mine in the Katanga province
Column 1
0
[/table]mce-anchor
Column 1
0
EVs & Energy Storage
Column 1
0
BHP upgrades outlook for electric vehicle penetrationArgus Media - February 20, 2019The first 100mn electric vehicles (EVs) on the roads are likely to displace around 1.3mn b/d...-rich lithium-ion 8-1-1 nickel manganese cobaltbattery pack ultimately provides the energy density and range characteristics needed toThe first 100mn electric vehicles (EVs) on the roads are likely to displace around 1.3mn b/d of oil demand and consume about 600,000 t/yr of copper by around 2030, UK-Australian resources firm BHP said. It now sees 275mn EVs operational by 2035, up by 40mn from its previous outlook…EVs are expected to consume around 7pc of the world's electricity by 2050, when they will make up about half the fleet and three quarters of annual sales, according to the central case in BHP's latest economic and commodities review…BHP's central case still sees EVs making up around 14pc of the light duty fleet and almost 30pc of annual sales by 2035. "However, our low case fleet share for this time horizon is now 7pc, up from 5pc a year ago…The central case assumes that most vehicle segments will achieve cost competitiveness without subsidies by around 2030, with an inflection point on mainstream adoption around 2025. This is based on a battery chemistry view that assumes current stability and cost issues are resolved, and a nickel-rich lithium-ion 8-1-1 nickel manganese cobalt battery pack ultimately provides the energy density and range characteristics needed to power mass market EV models.
Column 1
0
Column 1
0
Column: Coal going from winner to loser in India's energy futureReuters UK - February 20, 2019NEW DELHI (Reuters) - India’s demand for electricity is expected to double in the next two decades, and coal has been long forecast to be...power source onto the grid, and also installing sufficient storage in the form of batteries or pumped hydro to ensure stability. Coal won’tIndia’s demand for electricity is expected to double in the next two decades, and coal has been long forecast to be the fuel of choice for power generation. But this may no longer be the case…No, the main reason coal may battle to fuel India’s future energy needs is that it’s simply becoming too expensive relative to renewable energy alternatives such as wind and solar…In recent months, power supply auctions have shown that renewables can be offered at less than 3 rupees (4 U.S. cents) per kilowatt hour, a tariff that coal-fired generators have difficulty matching…There is also zero chance that new coal generators can produce electricity at rates competitive to renewables, given higher capital and operating costs…If coal is becoming unattractive in India, the question then is whether renewables can really meet the expected increase in demand for electricity…While it will certainly be possible to install sufficient renewable capacity, the challenge will be integrating this intermittent power source onto the grid, and also installing sufficient storage in the form of batteries or pumped hydro to ensure stability.
Column 1
0
Column 1
0
Tesla doesn't have enough of the batteries that can power your homeCNBC - February 19, 2019 Tesla's Powerwall batteries are in short supply among solar panel installers, according to a survey. Tesla CEO Elon Musk said the company needed to turn its focus to car batteries. Customers can still order Powerwall batteries directly from Tesla.Tesla's Powerwall batteries are in short supply among solar panel installers, according to a survey…the study suggested over 55 percent of solar installers reported that customers looking for in-home batteries are specifically requesting a Powerwall, which stores energy from solar panels and allows a home to operate entirely off of the grid, even if the power goes down…Tesla CEO Elon Musk explained during the company's earnings call in January that Tesla was "cell-starved for vehicle production" and had to switch its Powerwall production lines to vehicle battery lines. Tesla said it has since added additional capacity to its Powerwall production lines…"A new manufacturing line made by Tesla Grohmann is further increasing production of Powerwall and Powerpack modules at Gigafactory 1," Tesla said in its Q4 shareholder letter. "With a better supply of cells and new manufacturing equipment, we are aiming to more than double energy storage deployments to over 2 GWh in 2019.
Column 1
0
[/table][/table][/table][/table]
CLA Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
