How much does cobalt cost per metric ton?

Prices averaged USD 29,351 per metric ton in June, down 11.4% from May’s price and 59.3% lower year on year. Meanwhile, on 30 June, cobalt traded at USD 33,000 per metric ton, 13.5% higher month on month. This chart displays Cobalt (US$/mt) from 2021 to 2023. Price forecasts and historical data for Cobalt.

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.

What's happening in the cobalt market?

Our cobalt market update outlines key market developments quarter by quarter. Cobalt prices rallied in the first several months of 2022 on the back of steady electric vehicle (EV) demand, but the battery metal was unable to sustain its gains throughout the year.

Will cobalt prices stabilize in Q2?

In Q2, CRU revised its forecasts for mine supply slightly, predicting a rise of over 42,000 MT, up 26 percent year-on-year. “This will mean that the market should certainly be more balanced than in 2021, when a significant deficit developed,” Fisher said. After pulling back in the second quarter, cobalt prices began to stabilize in Q3.