Cobalt Prices

Cobalt prices averaged USD 36,288 per metric ton in October, down 13.7% from September. On 30 October, the commodity traded at USD 33,080 per metric ton, down 14.5% from 30 September.

Cobalt prices fell for a second straight month in October, again the weakest performance among base metals. Sentiment was bearish even though export quotas in the DRC—the world’s dominant cobalt producer—will remain in place until end-2027. Weaker Chinese demand and larger-than-expected alternative supplies are to blame.