Cobalt prices declined in recent weeks on strong supply and weaker demand amid muted industrial activity around the globe. Prices averaged USD 33,140 per metric ton in May, which was 3.9% lower than April’s price and was down 57.4% from the same month last year. Meanwhile, on 31 May, cobalt traded at USD 29,083 per metric ton, which was down 15.7% from the same day of the previous month.
This chart displays Cobalt (US$/mt) from 2021 to 2023.
Cobalt (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Cobalt | - | 45,868 | 51,673 | 61,760 | 74,418 | 77,119 | 52,082 | 51,504 |