Cobalt Prices Slump Even as China Ramps Up Imports and the U.S. Declares National Emergency Over Critical Materials Supply Chains

Neither China’s recent cobalt buying binge nor a declaration of a state of emergency by U.S. President Donald Trump about securing the supply chains for strategic minerals, including cobalt, have been enough to boost the price of the chemical element, which is used to make batteries for electric cars and other electronics.

As of last week, the cobalt spot price was $14.96 per pound, down from $15.41 last month.

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by Eric Olander

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