How much does cobalt cost per metric ton?

A paid subscription is required for full access. The futures price of cobalt ranged between 28,000 and 82,000 U.S. dollars per metric ton between August 2019 and May 2023. 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.

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.

How much cobalt is in the world?

The global reserve amount of cobalt is estimated at just over 7.0 million tonnes, with the Democratic Republic of the Congo holding approximately 3.5 million tonnes, corresponding to about 50% of the global reserves. The political sensitivity of the country adds concern that global demands might not be met.