First traded on LME: February 2010
World production: 82,200 tonnes (2011)
Cobalt is a hard, lustrous, silver-grey metal with a high melting point (1493°C), first discovered in 1739. It is sourced primarily as a by-product of copper and nickel mining and the 30th most abundant metal in the world.
Cobalt has many applications including magnetic, wear-resistant and high-strength super alloys (such as those used on gas turbine blades and jet aircraft engines), catalysts, batteries, chemicals and coloured dyes. Also, Cobalt-60 is a commercially important radioisotope, used as a radioactive tracer and in the production of gamma rays.
World cobalt production 2011
Source: WBMS www.world-bureau.com
Industry consumption 2011
|Superalloys & Special Steel
|Carbides & Diamond Tools
|High Speed Steel
Source: CRU www.crugroup.com