Global share of cobalt demand by end use 2010-2025.Value of cobalt articles, waste or scrap imported globally by the UK 2011-2017.Forecast: operating revenue nickel and cobalt smelting China 2008-2020.Secondary production of cobalt in the U.S.import value of cobalt import by form 2015-2020 Distribution of global cobalt demand by industry 2016.Comparison of cobalt consumption in the U.S.Cobalt refinery production in China 2010-2020.Industry revenue of “forging, pressing, stamping and roll-forming of metal“ in Germany 2012-2025 Industry revenue of “machining“ in the United Kingdom 2012-2025 Industry revenue of “machining“ in Turkey 2011-2023 Global share of cobalt demand by end use 2010-2025Ĭobalt oxides and hydroxides: export value in the United Kingdom (UK) 2010-2019Ĭobalt import value United Kingdom (UK) 2009-2014 Value of cobalt articles, waste or scrap imported globally by the UK 2011-2017 2010-2022įorecast: operating revenue nickel and cobalt smelting China 2008-2020 Secondary production of cobalt in the U.S. by end use 2012-2020ĭistribution of global cobalt demand by industry 2016 cobalt imports 2018-2021Ĭobalt consumption in the U.S. Cobalt in its metal form had the highest value out of all cobalt imports to the United States between 20.Ĭobalt refinery production in China 2010-2020Ĭomparison of cobalt consumption in the U.S. Between 20 Norway was the largest supplier of cobalt imports to the United States. Cobalt materials are used in turbine blades for gas turbines and jet aircraft engines, and jewelry, to name a few end-uses. Additionally, it becomes resistant to corrosion and wear. By integrating cobalt into a superalloy, cobalt becomes highly temperature stable. The largest share of cobalt consumption in the United States is attributable to superalloys, followed by chemical and ceramic uses, then steel alloys, and finally cemented carbides. As a result, it is typically produced as a byproduct of the nickel and copper mining industry. Almost all of the land-based deposits of cobalt are found within a mixture with nickel or copper. dollars per pound.Ĭobalt has a variety of uses, most commonly in the industrial sector. While cobalt spot prices have been on the rise in recent years, they are still lower than in 2018, when the cobalt spot price reached 37.43 U.S. The most important trading venue for nickel is the London Metal Exchange.In 2022, the average spot price of cobalt in the U.S. This demand cannot be met from Chinese nickel deposits, as a result of which China is one of the largest importers of nickel. Because steel production has increased substantially in China in recent years, the demand for and consumption of nickel is also increasing at a very fast pace there. Around one quarter of the global demand for nickel is met by recycling nickel scrap.Īround 40 per cent of global nickel output is consumed in Europe, followed by Asia and America. Nickel is also used in electroplated coatings. The most important use of nickel is therefore in the production of stainless steel and other metal alloys. Even a small amount of nickel can considerably improve the strength and resistance to corrosion of steel when used as an alloy, something which is made use of in the steel industry. Nickel is indeed very resistant to high temperatures and corrosion. This view was not refuted until the 18th century. For a long time nickel was not recognised as a metal in its own right, but was instead regarded as a non-meltable component of copper ore.
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