Cobalt prices averaged USD 32,896 per metric ton in August, unchanged from July. On 29 August, the commodity traded at USD 32,907 per metric ton, unchanged from 31 July.
Cobalt prices were broadly stable for the second successive month in August, despite the ongoing ban on cobalt exports in top producer DRC, which started in February and is set to run until at least September. This indicates that the supply chain remains well supplied due to multiple years of market surplus.
This chart displays Cobalt (US$/mt) from 2023 to 2025.
Cobalt (prices in US$/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 | - | - | 32,982 | 32,034 | 28,423 | 27,440 | 25,233 | 24,273 | 25,681 | 33,183 | - | - |