The rising price of cobalt is pushing up the cost of lithium-ion batteries, reports EnergyTrend.
Q3 prices of lithium-ion batteries are expected to rise by 5-15%.
Prismatic cells, cylindrical cells, and polymer cells are expected to show a Q3 QoQ price growth of 6~8%, 7~9%, and 10~15% respectively.
Global demand for cobalt is around 110,000 to 120,000 tons per year of which 7,000 to 8,000 tons comes from EVs in China, says EnergyTrend.
Two factors which may affect cobalt prices are illnesses related to cobalt mining in the Congo and the introduction of high-nickel solutions to the market in 3Q18.