How much does cobalt cost per pound?

Cobalt is most commonly used in alloys and batteries. Aside from some notable spikes it tends to trade around $15 USD per pound. Cobalt is a chemical element with symbol Co and atomic number 27. It is a transition metal and is ferromagnetic. It is a hard with a silver to bluish-gray color.

Why are cobalt prices so high?

Keep in mind that cobalt is a rare metal and, thus, its prices tend to be higher because of the supply-and-demand law. But since the industries that use cobalt have also established effective and efficient ways of recycling the metal, as well as in using cobalt-free alternatives, the metal’s prices are relatively stable considering its scarcity.

How much has cobalt decreased since 2023?

Cobalt decreased 18,535 USD/T or 35.68% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt is a hard, lustrous, grey metal with a high melting point (1493°C).

Where can I buy cobalt futures?

Cobalt futures are available for trading on The London Metal Exchange (LME). The standard contact has a size of 1 tonne. Futures contracts for Cobalt are financial instruments that allow producers, large consumers, and speculators, to offset or assume the risk of a price change of holding a quantity of Cobalt over time.