Cobalt traded flat at 33,335 USD/T on June 26, 2025. Over the past month, Cobalt's price has fallen 1.08%, but it is still 22.78% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt - values, historical data, forecasts and news - updated on July of 2025.

Explore the volatility of cobalt prices per kilogram, driven by supply chain dynamics, geopolitical factors, and rising demand from the electric vehicle (EV) industry. This article examines how market trends, technological advancements, and ethical sourcing impact the future of cobalt in global markets.

The futures price of cobalt ranged between ****** and ****** U.S. dollars per metric ton between August 2019 and May 2024. The impact of the COVID-19 crisis can be appreciated between March and July 2020, when cobalt futures prices dropped to around ****** U.S. dollars per metric ton. The first significant increase in this figure following the beginning of the pandemic was in August 2020, followed by a generalized increase throughout 2021 to the reach a peak of ****** U.S. dollars in March 2022. Futures vs. Spot prices Futures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost ** billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was ** U.S. dollars per pound in 2022. Cobalt in battery production Cobalt is a primary component of producing batteries, particularly lithium-ion batteries, used in various electronic devices, especially electric vehicles (EVs). EV batteries require a specific amount of cobalt, while conventional vehicles do not. With an increasing demand for lithium-ion batteries in EVs as the EV industry advances, the global cobalt market volume is expected to increase continuously by 2025.

In 2024, the average spot price of cobalt cathode in the U.S. stood at an estimated 17 U.S. dollars per pound. That was a slight decrease compared to the previous year's spot price, which was 17.2 U.S. dollars per pound. While cobalt spot prices have been on the rise in many recent years, they are still lower than in 2018, when the cobalt spot price reached a high of 37.43 U.S. dollars per pound. Cobalt prices Due to market surpluses of cobalt, prices of the mineral commodity have decreased compared to 2022. In 2022, the annual average global price for one metric ton of cobalt amounted to 63,739 U.S. dollars, while it is expected to decrease to 50,320 U.S. dollars per metric ton in 2024. The cobalt futures price as of February 2024 stood at 28,137 U.S. dollars per metric ton. Cobalt in the United States The largest share of cobalt consumption in the United States is attributable to superalloys, followed by chemical and ceramic uses, then steel alloys, and finally cemented carbides. Since the U.S. has only one domestic cobalt mine that opened in 2022, domestic demand is partially met through imports. Between 2019 and 2022, Norway was the largest supplier of cobalt imports to the United States. As of 2021, cobalt in its metal form had the highest value out of all cobalt imports to the United States.

Explore the factors affecting the price of cobalt chrome alloy per kilogram, including market demand, alloy purity, and economic conditions, as well as its use in industries like aerospace and medical implants. Learn how composition variations, geopolitical factors, and production capabilities impact pricing and get insights on the current price range from $300-$500 per kg as of 2023.

Zambia Commodity Prices: Cobalt data was reported at 60,402.170 USD/Tonne in Oct 2018. This records a decrease from the previous number of 62,912.500 USD/Tonne for Sep 2018. Zambia Commodity Prices: Cobalt data is updated monthly, averaging 28,040.914 USD/Tonne from Jan 2013 (Median) to Oct 2018, with 70 observations. The data reached an all-time high of 90,887.500 USD/Tonne in Apr 2018 and a record low of 17,945.631 USD/Tonne in Mar 2013. Zambia Commodity Prices: Cobalt data remains active status in CEIC and is reported by Bank of Zambia. The data is categorized under Global Database’s Zambia – Table ZM.P001: Commodity Price.

In 2023, supplies from abroad of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -77.3% to 69 tons, falling for the second consecutive year after two years of growth.

After nine years of growth, the Kenyan cobalt market decreased by -0.7% to $X in 2021. Over the period under review, consumption showed a significant expansion. Cobalt consumption peaked at $X in 2020, and then fell in the following year.

In 2023, cobalt exports from Saudi Arabia surged to 134 kg, rising by 60% compared with the previous year.

Molybdenum traded flat at 437 CNY/Kg on July 4, 2025. Over the past month, Molybdenum's price has fallen 8.86%, and is down 8.00% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Molybdenum - values, historical data, forecasts and news - updated on July of 2025.

Nickel fell to 15,260 USD/T on July 4, 2025, down 0.62% from the previous day. Over the past month, Nickel's price has fallen 1.20%, and is down 12.00% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel - values, historical data, forecasts and news - updated on July of 2025.

In 2023, after two years of decline, there was significant growth in purchases abroad of cobalt, when their volume increased by 382% to 410 kg.

The global market for dental laboratory cobalt-chromium ovens is experiencing robust growth, driven by the increasing demand for high-precision dental prosthetics and a rising awareness of the importance of precise heat treatment in achieving optimal material properties. The market is segmented by application (primarily dental laboratories and scientific research) and oven type (muffle, vacuum, infrared, microwave, and others). Muffle ovens currently dominate the market due to their versatility and cost-effectiveness, but vacuum ovens are witnessing significant growth due to their superior ability to produce high-quality, defect-free castings. Technological advancements are leading to more energy-efficient and precise ovens, further fueling market expansion. The adoption of digital dentistry and CAD/CAM technologies is indirectly boosting demand by increasing the volume of cobalt-chromium castings requiring precise heat treatment. Key players in the market are focusing on product innovation, strategic partnerships, and geographic expansion to maintain a competitive edge. The market's growth is expected to be particularly strong in regions with expanding dental healthcare infrastructure and a growing middle class, such as Asia-Pacific and North America. However, high initial investment costs for advanced oven technologies and stringent regulatory requirements in certain regions could pose challenges to market growth. While precise figures are unavailable from the prompt, considering a conservative CAGR of 5% (a reasonable estimate for a specialized equipment market within the broader dental industry), and assuming a 2025 market size of $250 million (a plausible figure considering the market participants and applications), a projection of the market's trajectory is feasible. The market’s growth is likely influenced by factors such as technological advancements, rising demand from emerging economies, and the increasing adoption of advanced dental techniques. Further segmentation analysis would reveal specific growth rates for different oven types and geographic regions, with vacuum ovens and regions with growing dental infrastructure expected to outperform the average. The competitive landscape is marked by both established players and emerging companies, with competition focused on innovation, pricing, and service capabilities. A detailed competitive analysis would require individual company revenue and market share data, not provided in the prompt.

For the fourth year in a row, New Zealand recorded growth in purchases abroad of cobalt, which increased by 20% to 789 kg in 2023.

In 2024, the Ethiopian cobalt ore market decreased by -2% to $244 for the first time since 2016, thus ending a seven-year rising trend. In general, consumption, however, continues to indicate a abrupt contraction. As a result, consumption attained the peak level of $1.5K. From 2015 to 2024, the growth of the market remained at a somewhat lower figure.

In 2023, supplies from abroad of cobalt decreased by -86.7% to 12 kg for the first time since 2019, thus ending a three-year rising trend.

In 2023, purchases abroad of cobalt decreased by -33.3% to 26 kg, falling for the second consecutive year after two years of growth.

For the fourth consecutive year, Cameroon recorded growth in overseas purchases of cobalt, which increased by 0.5% to 201 kg in 2023.

Cobalt Ore Price in Uganda - 2021. Find the latest marketing data on the IndexBox platform.

In 2023, approx. 71 kg of cobalt were imported into Nigeria; growing by 154% compared with the year before.