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.

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.

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.

Nickel rose to 15,162.50 USD/T on July 1, 2025, up 0.15% from the previous day. Over the past month, Nickel's price has fallen 2.24%, and is down 10.83% 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.

Molybdenum fell to 441 CNY/Kg on June 27, 2025, down 0.68% from the previous day. Over the past month, Molybdenum's price has fallen 6.47%, and is down 8.13% 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 June of 2025.

Moondrops Cobalt 10 1/2 Decanter plus 6 Shots Depression Glass - Sold on eBay Jan 14, 2023 for $124.99 - Historical sales data for collectible reference.

Royal Lace Cobalt Blue 10" bowl - Hazel Atlas Depression Glass - Sold on eBay Jul 19, 2022 for $50.00 - Historical sales data for collectible reference.

5 Hazel Atlas Cobalt Blue Ships Sailboat 4 7/8" 10 1/2 oz glass Iced Tea Tumbler - Sold on eBay Jul 19, 2022 for $38.00 - Historical sales data for collectible reference.

7 Total Cobalt Blue 10" & 8.25â? Dinner Plates - Sold on eBay Jul 11, 2022 for $50.00 - Historical sales data for collectible reference.

Depression Glass Hazel Atlas Royal Lace Cobalt Blue Set (10) Saucers 1936 - 1941 - Sold on eBay Dec 20, 2022 for $96.00 - Historical sales data for collectible reference.

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Tungsten Market Size 2025-2029

The tungsten market size is forecast to increase by USD 2.61 billion, at a CAGR of 7.4% between 2024 and 2029.

The market is driven by the extensive use of this element in the production of integrated circuits, particularly in the semiconductor industry. The miniaturization trend in electronic components is a significant factor fueling the demand for tungsten, as it is an essential material for manufacturing smaller and more efficient components. However, the market faces challenges due to increasing environmental and safety regulations. Tightening regulations on the disposal and handling of tungsten waste pose operational challenges for manufacturers, requiring significant investments in compliance measures. Additionally, the complex and costly mining process of tungsten adds to the market's complexity and potential supply chain disruptions.
Companies seeking to capitalize on market opportunities must navigate these challenges effectively by implementing sustainable mining practices, investing in research and development for alternative production methods, and adhering to regulatory requirements. In summary, the market is characterized by its critical role in the semiconductor industry, the ongoing trend towards miniaturization, and the regulatory challenges that necessitate innovative solutions.

What will be the Size of the Tungsten Market during the forecast period?

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Tungsten carbide, a versatile material known for its exceptional hardness and high melting point, is utilized extensively in various industries, including automotive, aerospace, and manufacturing. The market for tungsten carbide-based compounds continues to evolve, with numerous alloys gaining traction. Among these, tungsten carbide-hafnium, tungsten carbide-germanium, and tungsten carbide-niobium alloys exhibit superior strength and wear resistance. Simultaneously, tungsten disulfide, tungsten nitride, and tungsten carbide-tantalum display remarkable lubricity, making them indispensable in applications requiring low friction. Tungsten carbide-gold, tungsten carbide-platinum, and tungsten carbide-silver alloys offer enhanced electrical conductivity, while tungsten carbide-cobalt and tungsten carbide-chromium alloys provide excellent corrosion resistance.
Moreover, tungsten carbide-zirconium, tungsten carbide-copper, and tungsten carbide-titanium alloys are widely used for their excellent thermal conductivity. Tungsten carbide-iridium, tungsten carbide-silicon, and tungsten carbide-rhenium alloys are valued for their high strength and melting points. Tungsten oxide, on the other hand, is a significant byproduct of the tungsten industry, with applications in catalysis, pigments, and electronics. The market for tungsten carbide-based compounds is driven by their unique properties and the growing demand for high-performance materials in diverse industries.

How is this Tungsten Industry segmented?

The tungsten industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Hard metal
  Steel and alloys
  Mill products
  Others


Application

  Automotive
  Aerospace and defense
  Electrical and electronics
  Machine tools and equipment
  Healthcare


Geography

  North America

    US
    Canada


  Europe

    Austria


  Middle East and Africa

    South Africa


  APAC

    Australia
    China
    India
    Japan
    Vietnam


  Rest of World (ROW)

By Product Insights

The hard metal segment is estimated to witness significant growth during the forecast period.

Tungsten, a heavy metal with a high melting point, is the primary component in the production of hard metal products, specifically cemented carbides. Cemented carbides, also known as tungsten carbides, are engineered materials composed of hard tungsten grains cemented together by a binder matrix of cobalt or nickel alloy. The manufacturing process, liquid phase sintering, results in a composite material that offers superior strength, hardness, transverse rupture strength, and fracture toughness compared to other hard materials like high-strength titanium alloys and hard ceramics. Cemented carbides are widely used in various industries due to their unique properties. In energy applications, they are employed in gas turbine blades and nozzles for their high-temperature resistance.

Tungsten carbide tools, such as drills and cutting tools, are used in heavy industries for their superior wear resistance. Medical applications include the production of surgical instruments and implants. Tungsten carbide inserts, sleeves, and punches are essential components in the manufacturing sector for tooling and cutting applications. The aerospace industry uses tungsten carbi

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Gorgeous Set of 5 Hazel-Atlas Cobalt Blue Royal Lace pattern 10" Grill Plates - Sold on eBay March 30th, 2025 for $105.00 - Historical sales data for collectible reference.

8 Hazel Atlas Depression Glass Cobalt Blue Moderntone Dinner Plate 10½" diam lot - Sold on eBay Apr 17, 2023 for $210.00 - Historical sales data for collectible reference.

Fiesta Ware HLC Cobalt Blue L 10" Canister & Lid Crock Cookie Jar 3QT Glaze Bump - Sold on eBay August 22nd, 2024 for $67.95 - Historical sales data for collectible reference.

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Mini Nesting Hens Lot of 10X Vintage Mini Iridescent Green And Blue Cobalt Min - Sold on eBay June 22nd, 2024 for $125.00 - Historical sales data for collectible reference.

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8 Hazel Atlas MODERNTONE COBALT BLUE 6 3/4" SALAD PLATES EUC - Sold on eBay Jul 10, 2022 for $29.99 - Historical sales data for collectible reference.

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