Cobalt Prices

Cobalt prices averaged USD 48,139 per metric ton in November, up 11.6% from October. On 28 November, the commodity traded at USD 48,144 per metric ton, unchanged from 31 October.

In November, cobalt prices rose for the third consecutive month and posted the best performance among base metals for the second successive month. This was likely the result of still-halted exports from the DRC—which mines about 70% of global cobalt—and the government replacing its export ban with a quota system in mid-October.