Cobalt Prices

Cobalt prices averaged USD 55,854 per metric ton in August, unchanged from July. On 31 August, the commodity traded at USD 55,867 per metric ton, unchanged from 31 July.

Prices have been stable since February this year at a level notably above the past-decade average. The decision by the DRC—the world’s dominant cobalt producer—to introduce export quotas has put a floor under the market. However, sluggish global growth in EV sales and the rising share of cobalt-free batteries have capped demand.