Cobalt prices averaged USD 51,918 per metric ton in December, up 7.8% from November. On 31 December, the commodity traded at USD 52,917 per metric ton, up 9.9% from 28 November.
Average cobalt prices rose for a fourth straight month in December, making it the strongest performer among base metals in 2025, with prices up nearly 120%. The rally was fueled by the decision of the DRC—supplier of about 70% of global output—to halt cobalt exports. The export ban was replaced by a quota system in mid-October.
This chart displays Cobalt (US$/mt) from 2024 to 2025.
Cobalt (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cobalt | - | - | - | - | 28,423 | 27,440 | 25,233 | 24,273 | 25,681 | 33,183 | 33,091 | 47,716 |