The market for cobalt sulfate is becoming more mature, market participants said on the sidelines of Metal Bulletin's Battery Materials Conference, in Shanghai, which is being held Wednesday-Thursday April 18-19.
Emerging traders are getting involved in the spot market and are showing extensive interest in considering the commodity as an investment material, just like cobalt metal, they added.Cobalt sulfate was a producer-to-consumer market years ago, but thanks to the robust outlook for uptake of electric vehicles (EVs) over the next few decades, traders with an appetite for investment have emerged in the spot market in recent years to add fresh liquidity.Cobalt sulfate, nickel sulfate and manganese sulfate are the key materials needed to produce the nickel-cobalt-manganese (NCM) lithium-ion batteries that ultimately serve the EV industry.In...