Cobalt Prices

Cobalt prices averaged USD 42,053 per metric ton in September, down 24.7% from August. On 30 September, the commodity traded at USD 38,699 per metric ton, down 30.7% from 31 August.

In September, cobalt average prices nosedived to a year low, falling at the fastest pace in over three years. Export quotas in the DRC—the world’s dominant cobalt producer—had supported prices earlier in 2026, but recently stronger DRC shipments and China’s shift to cobalt-free batteries drove them down in September.