Cobalt prices averaged USD 32,895 per metric ton in July, down 0.2% from June. On 31 July, the commodity traded at USD 32,898 per metric ton, unchanged from 30 June.
Cobalt prices were largely stable over the past month, despite the ongoing ban on cobalt exports in top producer the DRC, which started in February and is set to run until at least September. This suggests that the supply chain remains well stocked after several 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 | - | - |