Global refined cobalt supply totaled 91,754 mt in 2014, up 6.8% from 85,904 mt in 2013, the Cobalt Development Institute said Wednesday in the latest edition of its cobalt news publication.
The report, based on the main sources reporting their production, said production from CDI members was 44,859 mt, some 8,239 mt or 22% higher than 2013.
The CDI said when comparing members production figures it should be noted that Norilsk Nickel now reports as a non-CDI member, while Glencore joined as a full CDI member in 2014.
"Therefore direct comparisons between members and non-members for previous years will need to take this into account," the CDI said.
CDI member production in 2014 also saw increases at Tenke Fungurume, Ambatovy, Sumitomo, Katanga, Umicore and Minara.
Umicore's production increased to 5,850 mt in 2014 from 5,415 mt in 2013, while Sumitomo's increased to 3,654 mt from 2,747 mt.
Vale produced 2,051 mt of refined cobalt in 2014, down from 2,240 mt in 2013 and Glencore produced 9,300 mt, with CTT producing 1,391 mt, up from 1,353 mt in 2013.
Ambatovy produced 2,915 mt of refined cobalt in 2014, up from 2,083 mt in 2013.
Among non-CDI members, total refined production was 46,895 mt, down 5% from 49,284 mt in 2013.
Chinese production was 39,292 mt, up 3,230/mt or 9% from 36,062 mt in 2013.
"For other non-CDI members there was a mixed set of production results. It should be noted that in Uganda the cobalt operations of Kasese have ceased.As a general comment, the cobalt production in central and southern Africa has been adversely affected through electrical power limitations in the region which will likely constrain future increases in production," the CDI said.
There were no DLA deliveries during 2014 and the DLA inventory remains at 301 mt.
Early indications are that global apparent consumption was around 81,000 mt in 2014, which represents a 6,000 mt, or 8% increase on the previous year.
"Demand seems to have shown a slight improvement in Europe and America whereas China and Asia are indicating an increase in apparent demand of 10% or better," the CDI said.
