Inflation Fueled by Demand or Supply?; Clean Energy Demand Buoys Cobalt Dec 09, 2021 View in your browser Did Demand or Supply Lift Inflation?; Clean Energy Demand Buoys Cobalt By Blu Putnam, Chief Economist Erik Norland, Senior Economist CME Group Did Demand or Supply Fuel Inflation? Supply and demand affected in unusual, atypical ways during pandemic Demand impacted by relief payments, consumers’ shift to manufactured goods Did relief payments through fiscal policy cause inflation to soar? Shift in demand to manufactured goods exacerbated supply chain issues Watch video Demand Lifts Cobalt, Wild Swings in Prices Cobalt prices rose in 2021 amid demand for electric vehicle battery storage About 57% of all cobalt is used in batteries; other uses include making superalloys Cobalt prices have been volatile, trading between $7 and $40 a pound About 70% of the world’s cobalt comes from the Democratic Republic of the Congo Watch video SEE MORE ANNOUNCEMENTS