You are now at: Home » News » BATTERY » News » Industry News » Content

Glencore, China's Gem sign cobalt supply deal: Update

Large  Small Date:2019-10-08  From:Argus
Note: Chinese battery material manufacturer Gem has signed a five-year agreement with Swiss company Glencore to secure supplies of cobalt hydroxide as global demand for electric vehicles increases.
Chinese battery material manufacturer Gem has signed a five-year agreement with Swiss company Glencore to secure supplies of cobalt hydroxide as global demand for electric vehicles increases.
 
Under the agreement, Glencore will supply a minimum of 61,200t of cobalt to Gem between 2020 and 2024.
 
"This long-term partnership provides Glencore with a stable outlet for a significant portion of its expected future cobalt hydroxide production," Glencore head of marketing, copper and cobalt Nico Paraskevas said.
 
The deal comes a year after the two companies signed a three-year cobalt offtake agreement through which Gem has agreed to buy a total of 52,800t of cobalt hydroxide from Glencore.
 
In recent years, trading in the cobalt hydroxide market has become more active following the sharp demand growth for battery metals from the automotive sector. Because of this increase, Argus plans to launch a 30pc grade cobalt hydroxide cif China assessment on 8 October.

该图片无替代文字
 
[ NewsSearch ]  [ Add to Favourite ]  [ Publicity ]  [ Print ]  [ Close ]

 

 


Copyright © Shanghai Xinluo Network Technology Co.,Ltd
Address: 1203 Hengrui International Building,560 Zhang Yang road, Pudong New Area , Shanghai
The customer service telephone: +86 18601625902
E-mail: peter@iccsino.com   沪ICP备11004255号-3
Wechat: 18601625902

Scan to Wechat