Cobalt increased 9,310 USD/T or 38.31% since the beginning of 2025, 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 March of 2025.

The futures price of cobalt ranged between 27,000 and 82,000 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 28,500 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 81,860 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 30 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 31 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.

The price for cobalt in the second half of 2023 reached an average of 37589 USD/MT in the USA. In China, the cobalt average price touched 29657 USD/MT in December 2023. It encompasses an in-depth review of spot price of cobalt at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of cobalt price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Zhejiang Huayou Cobalt stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

In the first quarter (Q1) of 2022, the average price of cobalt metal worldwide amounted to 78,779 U.S. dollars per metric ton. The cobalt metal price was the highest in the second quarter (Q2) of 2022, with a total average price of 81,277 U.S dollars per metric ton. Cobalt metal's average global price was the lowest in the fourth quarter (Q4) of 2022, with an average price of 50,449 U.S. dollars per metric ton.

Nickel increased 995.38 USD/MT or 6.51% since the beginning of 2025, 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 March of 2025.

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.

The London Metal Exchange (LME) cobalt price serves as a benchmark for cobalt prices worldwide and is determined by supply and demand dynamics. This article explores the factors influencing the price, the importance of cobalt in various industries, and how market participants use the price to inform their decisions. It also discusses the impact of geopolitical events on the price and the recent volatility experienced. Overall, the LME cobalt price is a key indicator for the global cobalt market.

One metric ton of cobalt cost 63,739 U.S. dollars in 2022. Industry analysts forecast that the global cobalt price will decrease to less than 55,000 U.S. dollars per metric ton in 2023 due to a market surplus.

Molybdenum decreased 20 CNY/Kg or 4.26% since the beginning of 2025, 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 March of 2025.

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.

In 2021, a pound of cobalt cost around 25 U.S. dollars. Comparatively, the price of a pound of iron stood well under one U.S. dollar, at around eight cents. Lithium-ion batteries used in electric vehicles rely heavily on cobalt containing cathodes, but cobalt supply chain issues have inflated cobalt prices in the past years. With increasing sales of electric vehicles worldwide, the industry will need to look into other metal alternatives for vehicle batteries.

Zhejiang Huayo reported 17.06 in PE Price to Earnings for its fiscal quarter ending in September of 2024. Data for Zhejiang Huayou Cobalt | 603799 - PE Price to Earnings including historical, tables and charts were last updated by Trading Economics this last March in 2025.

The Democratic Republic of the Congo has the largest cobalt reserves in the world, at some six million metric tons as of 2024. With the world's total cobalt reserves amounting to 11 million metric tons that year, the DR Congo accounted for more than half of the worldwide reserves of the metal. This was followed by Australia, which held an impressive 1.7 million metric tons of the global cobalt reserves in 2024. Cobalt: coveted, yet not so rare Although cobalt is not especially rare – ranking 32nd in global abundance among metals – it has become an increasingly important commodity due to its use in batteries, as well as in alloys, chemicals and ceramics, cemented carbides, and more. It is forecast that in 2040, the global cobalt demand for use in batteries will amount to 260,000 tons, up from 70,000 metric tons in recent years. Cobalt's use in batteries applies particularly to the batteries of electric cars which have transformed the demand for this metal; in 2024 the price of cobalt stood at 17 U.S. dollars per pound. U.S. cobalt consumption The United States used some 8,300 metric tons of cobalt in 2023, based on apparent consumption. Cobalt supply in the North American country is achieved primarily through imports and scrap materials. Most of the country's consumption of this metal is destined to the production of superalloys, followed by chemical and ceramic uses.

The global samarium cobalt magnets market size reached USD 590.9 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 757.6 Million by 2033, exhibiting a growth rate (CAGR) of 2.66% during 2025-2033. The market is experiencing a significant growth mainly driven by the rising demand in high-temperature applications, renewable energy and advanced electronics. Innovations in manufacturing and recycling technologies, along with geopolitical efforts to secure rare earth supplies, are enhancing the market's stability and facilitating expansion.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on application.

The Global Cobalt Sulphate Market Size Was Worth USD 1,008.46 Million in 2022 and Is Expected To Reach USD 1,828.22 Million by 2030, CAGR of 7.72%.

In 2024, the mine production of cobalt in the Democratic Republic of Congo (DR Congo) totaled an estimated 220,000 metric tons, the peak production volume in the indicated period. DR Congo is the world's largest producer of cobalt from mines, accounting for over 70 percent of global cobalt mine production in 2024. Cobalt from the DR Congo Cobalt is a silver-grey, hard and lustrous metal that is only found in the Earth’s crust in chemically combined form. Cobalt is therefore primarily mined as a byproduct of nickel and copper mining. From there, cobalt is produced by reductive smelting. DR Congo has by far the world's largest reserves of cobalt. Cobalt is primarily used in lithium-ion batteries for electric devices such as laptops and electric vehicles. Since the 1960s, the world’s cobalt mine production has largely been focused in the DR Congo, where small-scale and artisanal mine operations account for most of the production. Congolese mining industry: hard & hazardous labor Artisanal and small-scale mining operations employ about 12.5 million Congolese. Of those people, most are involved in nickel, copper, and cobalt mining. Children aged 15 and older are legally allowed to do light work in DR Congo. However, half of the children working in the cobalt-producing mines in DR Congo perform hard, hazardous labor. Adults and children involved in this industry there work in dangerous environments, often without the necessary protective equipment. This has been known to lead to respiratory and skin problems, as well as life-threatening accidents as a result of insufficient safety measures such as tunnels caving in.

Japan IMPI: JB: MRP: NM: UHM: Unwrought Cobalt data was reported at 94.000 2010=100 in Dec 2016. This records an increase from the previous number of 84.400 2010=100 for Nov 2016. Japan IMPI: JB: MRP: NM: UHM: Unwrought Cobalt data is updated monthly, averaging 101.950 2010=100 from Jan 1995 (Median) to Dec 2016, with 264 observations. The data reached an all-time high of 303.600 2010=100 in Feb 2008 and a record low of 54.800 2010=100 in Dec 2012. Japan IMPI: JB: MRP: NM: UHM: Unwrought Cobalt data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I226: Import Price index: 2010=100: JPY Basis: Metals & Related Products.

In 2020, the volume of cobalt exported from the Democratic Republic of Congo amounted to nearly 86,000 metric tons. In the period of consideration, the African nation's cobalt exports peaked in 2018 at more than 109,000 metric tons. This peak export volume coincided with a peak in cobalt prices that year.