Cobalt Prices

Cobalt prices averaged USD 55,873 per metric ton in July, unchanged from June. On 31 July, the commodity traded at USD 55,875 per metric ton, unchanged from 30 June.

In July, average cobalt prices were unchanged for a fifth consecutive month, remaining well above the 10-year average. Prices were supported by tight supply after the DRC—which accounts for more than 70% of global production—imposed an export ban in February 2025, followed by the introduction of export quotas in October 2025.