Just another commodity getting manipulated. See my books for the chapters on how this happens.....AIvars Lode.
Markets like stocks and oil have rebounded this year, but cobalt and lithium continue to fall
Investors who piled into electric-car metals can’t seem to catch a break.
Markets from stocks to crude oil have staged a comeback in 2019 after a tumultuous stretch at the end of last year. But cobalt and lithium—metals that are key to making the rechargeable batteries used in electric vehicles and smartphones—are missing out on the rebound across risky assets.
Cobalt prices have fallen more than 30% in 2019 to their lowest level in two years, according to figures from commodity-price provider Fastmarkets through Feb. 6. Meanwhile, a lithium price index published by Benchmark Mineral Intelligence dropped for the 10th consecutive month in January to a multiyear low.
The descent in both markets is a reversal from 2017, when investors sent prices soaring as they anticipated a wave of demand would lead to supply shortages. The slump is the latest sign that once-hot trades can quickly change as major players in a sector shift their behavior in ways investors can’t predict.
