Cobalt traded flat at 48,570 USD/T on November 27, 2025. Over the past month, Cobalt's price has remained flat, but it is still 99.88% 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 December of 2025.

View monthly updates and historical trends for US Cobalt Spot Price. Source: International Monetary Fund. Track economic data with YCharts analytics.

In 2024, the average spot price of cobalt cathode in the U.S. stood at an estimated ** U.S. dollars per pound. That was a slight decrease compared to the previous year's spot price, which was **** 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 ***** 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 ****** U.S. dollars, while it is expected to decrease to ****** U.S. dollars per metric ton in 2024. The cobalt futures price as of February 2024 stood at ****** 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.

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.

The Indian cobalt market was finally on the rise to reach $29M in 2024, after two years of decline. In general, consumption, however, recorded a perceptible setback. Over the period under review, the market attained the peak level at $50M in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

The global cobalt market is valued at 16.12 billion in 2024 and is expected to reach USD 34.73 billion by 2035, representing a CAGR of 7.23% during the forecast period.

The global cobalt market surged to $X in 2021, rising by 22% against the previous year. Over the period under review, consumption, however, saw resilient growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the global market remained at a somewhat lower figure.

The global ammonium sulfate market size was valued at USD 8712 million in 2021, Central Africa is the most significant shareholder in the global market.
Report Scope:

Cobalt is available in various forms, including chemical compounds, metal, and purchased scrap. Chemical compounds, comprising cobalt salts and oxides, find applications in catalysts, pigments, and magnetic materials. Metallic cobalt is utilized in super alloys, hardfacing materials, and coatings. Purchased scrap plays a significant role in recycling and waste reduction efforts. Recent developments include: December 2021 - , In December 2021, Kabanga Nickel announced their plan to invest heavily in their upcoming project of nickel-cobalt-copper property to increase their production., April 2022 - , In April 2022, Glencore and General Motors signed a sourcing agreement, where Glencore will be bound to supply cobalt from its Murrin operations to General Motors. , March 2022 - , In March 2022, MMG announced its business expansion in the Democratic Republic of Congo (DRC) by investing about USD 500 million., . Key drivers for this market are: The Cobalt Market is propelled by several driving forces. The rising popularity of electric vehicles and their growing battery capacity requirements drive cobalt demand. The increasing adoption of cobalt-based catalysts in various industries and the expanding use of cobalt in energy storage systems further contribute to market growth.. Potential restraints include: The Cobalt Market faces certain challenges and restraints. Concerns over the sustainable and ethical sourcing of cobalt, particularly from conflict-prone regions, pose a challenge. The dependence on a few key production regions, such as the Democratic Republic of Congo, raises supply chain vulnerability concerns. Additionally, market dynamics may be impacted by fluctuations in the price of cobalt.. Notable trends are: Growing demand for polymerization and blowing agents.

Zhejiang Huayo reported CNY21.41 in PE Price to Earnings for its fiscal quarter ending in September of 2025. Data for Zhejiang Huayou Cobalt | 603799 - PE Price to Earnings including historical, tables and charts were last updated by Trading Economics this last December in 2025.

The Chinese cobalt market skyrocketed to $5.5B in 2024, growing by 36% against the previous year. In general, consumption continues to indicate a strong expansion. Over the period under review, the market reached the maximum level at $5.7B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Discover the booming electrolytic cobalt market! Our in-depth analysis reveals a $1.5 billion market in 2025, projecting a 7% CAGR through 2033, driven by EV adoption and renewable energy. Explore market segments, key players (Sumitomo, Nornickel, Umicore), and regional trends in this comprehensive report.

Zhejiang Huayo reported CNY104.94B in Market Capitalization this November of 2025, considering the latest stock price and the number of outstanding shares.Data for Zhejiang Huayou Cobalt | 603799 - Market Capitalization including historical, tables and charts were last updated by Trading Economics this last November in 2025.

Zhejiang Huayo reported CNY18.11B in Cost of Sales for its fiscal quarter ending in September of 2025. Data for Zhejiang Huayou Cobalt | 603799 - Cost Of Sales including historical, tables and charts were last updated by Trading Economics this last December in 2025.

Zhejiang Huayo reported CNY58.13B in Debt for its fiscal quarter ending in June of 2025. Data for Zhejiang Huayou Cobalt | 603799 - Debt including historical, tables and charts were last updated by Trading Economics this last November in 2025.

Get key insights on Market Research Intellect's High Rate Lithium Cobalt Oxide Market Report: valued at USD 1.2 billion in 2024, set to grow steadily to USD 2.5 billion by 2033, recording a CAGR of 9.2%.Examine opportunities driven by end-user demand, R&D progress, and competitive strategies.

In 2024, the Latvian cobalt market was finally on the rise to reach $1.5K after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $5.8K in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

Discover the booming high-purity cobalt metal market! This comprehensive analysis reveals a projected $4.5B market by 2033, driven by EV batteries and renewable energy. Explore market size, CAGR, key players, and regional trends.

Zhejiang Huayou Cobalt reported 0.76 in Dividend Yield for its fiscal quarter ending in September of 2025. Data for Zhejiang Huayou Cobalt | 603799 - Dividend Yield including historical, tables and charts were last updated by Trading Economics this last December in 2025.

Zhejiang Huayo reported CNY20.15B in Stock for its fiscal quarter ending in June of 2025. Data for Zhejiang Huayou Cobalt | 603799 - Stock including historical, tables and charts were last updated by Trading Economics this last December in 2025.