Cobalt Prices

Cobalt prices averaged USD 33,260 per metric ton in May, down 0.2% from April. On 30 May, the commodity traded at USD 33,270 per metric ton, unchanged from 30 April.

Prices were broadly stable in May after jumping in response to the DRC’s four-month cobalt export ban, which began in February. The ban will expire in the coming weeks, but Congolese officials have said that the restrictions will remain to balance the market, though no explicit follow-up measures have been announced.