Global cobalt mkt faces deficit in 2010-Sherritt

LONDON, Aug 19 (Reuters) - The global market for battery material cobalt will slide into a deficit next year, as rising demand and stalled production projects boost prices, Sherritt International told Reuters.

Martin Vydra, managing director at Toronto-based Sherritt International (S.TO), predicts a cobalt deficit of between 1,000-3,000 tonnes in 2010.

"I believe that pricing is starting to now track supply and demand and that there is more room to go up," Vydra told Reuters in an interview.

(Reporting by Michael Taylor; editing by Keiron Henderson)