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Cobalt market to shift to deficit by 2017

Data:2014-01-02 19:37hit:150
The global cobalt market will shift from surplus in 2013 to deficit in 2017, analysis by Glencore Xstrata suggests. 
Global demand for cobalt will reach 111,500 tonnes by 2017, up from 88,100 tonnes in 2013, according to the company. 
This represents a compound annual growth rate of 6.1%. 
Supply will rise but will fail to keep up with the surge in demand, presentation slides on the company’s website show.
The information is provided by Cru. 
Global supply of cobalt will hit 111,100 tonnes by 2017, up from 89,100 tonnes in 2013. 
This represents a compound annual growth rate of 5.7% and suggests that demand will eventually outstrip supply. 
Glencore’s Stuart Cutler and Gary Nagle will present the findings later today during the company’s investor day in London.