Cobalt prices averaged USD 24,300 per metric ton in December, unchanged from November. On 31 December, the commodity traded at USD 24,300 per metric ton, unchanged from 29 November.
Prices flatlined in December, remaining around historically low levels. Rising production from the Democratic Republic of Congo (DRC) and Indonesia dented prices throughout 2024, with top miner China’s CMOC Group more than doubling its output from 2023 and reaching a record volume.
This chart displays Cobalt (US$/mt) from 2023 to 2024.
Cobalt (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Cobalt | 39,791 | 32,275 | 32,982 | 32,034 | 28,423 | 27,440 | 25,233 | 24,273 |