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 did cobalt prices go down in 2019?

China was the world’s leading consumer of cobalt, with more than 80% of its consumption being used by the rechargeable battery industry. During the first 7 months of 2019, cobalt prices generally trended downward, which analysts attributed to oversupply and consumer destocking and deferral of purchases.

What percentage of cobalt is recycled?

Recycling: In 2021, cobalt contained in purchased scrap represented an estimated 24% of cobalt estimated consumption. Import Sources (2017–20): Cobalt contained in metal, oxide, and salts: Norway, 20%; Canada, 16%; Japan, 13%; Finland, 11%; and other, 40%. Depletion Allowance: 22% (domestic), 14% (foreign). Free.

How much cobalt is consumed in 2021?

The total estimated value of cobalt consumed in 2021 was $340 million. Recycling: In 2021, cobalt contained in purchased scrap represented an estimated 24% of cobalt estimated consumption. Import Sources (2017–20): Cobalt contained in metal, oxide, and salts: Norway, 20%; Canada, 16%; Japan, 13%; Finland, 11%; and other, 40%.