Cobalt is mainly used for cathode materials of ternary lithium batteries, which can significantly increase the energy density of lithium batteries. According to EnergyTrend, the cobalt price in 2017 rose from US$32/kg at the beginning of the year to US$95/kg at the end of the year, an increase of 114%. ; and the first quarter of 2018, the price of cobalt climbed by 26% again. Industry insiders believe that this round of increase in the price of cobalt can lead to a 3-4% increase in the cost of lithium batteries in the short term.
