![]() The contract size for Cobalt Hydroxide is 1 metric ton multiplied by the Contract price, with a minimum price fluctuation of one-hundredth of a United States dollar, equivalent to one-hundredth United States dollars per Contract. The SGX Cobalt Hydroxide Futures contract follows the following specifications: SGX FM Cobalt Hydroxide CIF China FuturesĬobalt Hydroxide is used to boost the energy density and the life of the battery.įastmarkets’ Cobalt Hydroxide index, 30% Co min, Cif China settled at a year-to-date low of $7.44 per lb at the end of June. Trading Hours are from Monday to Friday, at these trading hours: The contract size for Cobalt Metal is 1 metric ton multiplied by the Contract price, with a minimum price fluctuation of one-hundredth of a United States dollar, equivalent to one-hundredth United States dollar per Contract. The SGX Cobalt Metal Futures contract follows the following specifications: This is significant for EVs as it entails increased battery life and energy density, furthering conservation efforts.ĭemand and Supply-side factors affect the price of cobalt, the futures price of cobalt ranged between 28,000 and 70,098 U.S dollars per metric ton between August 2019 and September 2022. ![]() SGX FM Cobalt Metal IN-WHS Rotterdam (Standard Grade)Ĭobalt Metal is a material used to maintain the structural stability of batteries. Given the urgent circumstances and political shifts towards environmentally friendly alternatives, cobalt hydroxide demand and prices are also subjected to volatility. SGX’S Cobalt Hydroxide CIF China futures also provide a similar value and preposition for the Chinese market. These energy metal derivatives contracts are also designed to provide a price discovery mechanism in the transition to greener sources of energy. Therefore, to manage the momentum generated from the EV Metal and cobalt metal industry, SGX’s cobalt metal futures will allow both producers and consumers to hedge and manage risks more efficiently. The increasing prices of cobalt are associated with the lack of supply and increased demand for the metal from EV industries. This was up from $18.50 - $19.30 per tonne on the corresponding date last year. To learn more about this product, this post will cover key information about the related futures offered by SGX.Ĭobalt Metals futures from SGX are from Rotterdam which is Europe’s largest seaport.īased on the price guide provided by fast market, the price of cobalt, standard grade, in-whs Rotterdam, was at $34.20 - 34.60 per tonne on Thursday, January 27. ![]() Its essential role in electrical parts has also brought it to the spotlight in recent years, and the largest producers of cobalt currently are from the Democratic Republic of Congo, Russia, Australia, and the Philippines. Similar to the previous EV metal on lithium, future contracts for cobalt serve a similar purpose, it is a financial instrument that will allow producers, large consumers, and speculators to offset or assume the risk of a price change of holding a quantity of Cobalt over time. It is also one of the key components for production and an EV metal. Cobalt Metal is used to create parts in gas turbines, corrosion-resistant alloys, and rechargeable battery electrodes.
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