"Cobalt prices fell 40% between November 2018 and February 2019, after surging for the past few years. The decline in prices is due to slowing battery capacity race and maturing Chinese EV market. Mining companies doubled cobalt capacity during the 2016-2018 period, in response to high demand, and speculation of constrained global cobalt supplies. The industry is now learning about the abundance of supply.
However, the decline in cobalt prices is temporary, and market forces will correct prices to a realistic level. Given the plans of OEMs to roll out EV models, it won’t be long before cobalt prices increase again. Glencore is already stockpiling cobalt supplies at Kamoto mine, following the discovery of radioactive ore, which could increase the prices in the short-to-medium term." – Aman Madhok