| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Cobalt | China | FOB | USD 60,377.71/MT | April 2026 |
| Cobalt | India | CIF | USD 60,427.59/MT | April 2026 |
| Cobalt | USA | CIF | USD 60,464.71/MT | April 2026 |
| Cobalt | Germany | FOB | USD 55,365.00/MT | April 2026 |
| Cobalt | Australia | CIF | USD 60,415.93/MT | April 2026 |
| Cobalt | China | FOB | USD 62,354.74/MT | March 2026 |
| Cobalt | India | CIF | USD 62,409.74/MT | March 2026 |
Stay updated with the latest cobalt prices, historical data, and tailored regional analysis
Cobalt pricing in Q1 2026 reflected a clear transition from oversupply-led weakness toward tighter physical conditions, driven primarily by persistent disruption in the cobalt feedstock pipeline. Material availability remained restricted following the DRC’s earlier export controls and quota-linked administrative delays, with raw material arrivals into China still projected to stay limited during the quarter. This kept the refined cobalt and cobalt salt supply relatively tight, particularly after holiday-related production cuts. At the same time, short-term operational disruptions at Sherritt’s Moa nickel-cobalt project in Cuba due to fuel shortages and Sumitomo’s Ambatovy project in Madagascar following cyclone-related damage added to supply-side caution, even if their direct global impact remained limited. On the demand side, post-holiday logistics normalization and gradual resumption of procurement by ternary cathode precursor producers improved market sentiment, while tighter inventories and stronger expectations across cobalt intermediates and alloy-grade demand reinforced the market’s upward bias.
Analyst insights
Global cobalt prices are expected to remain supported in the coming months, although any easing in DRC shipment bottlenecks or a sharp recovery in alternative supply could moderate the pace of gains.
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| Product | Category | Region | Price | Last Updated Month |
| Cobalt | Energy, Metals and Minerals | USA | US$ 32517/MT | June 2025 |
| Cobalt | Energy, Metals and Minerals | China | US$ 32442/MT | June 2025 |
| Cobalt | Energy, Metals and Minerals | India | US$ 33112/MT | June 2025 |
The Asian cobalt market experienced significant volatility throughout 2025, driven primarily by supply-side disruptions originating from the Democratic Republic of Congo. During the first half of the year, cobalt prices in Asia started at multi-year lows amid persistent oversupply conditions and weak demand from the battery sector. The market faced downward pressure as elevated production from the DRC coincided with tepid consumption from electric vehicle manufacturers. However, market dynamics shifted markedly when the DRC imposed an export ban in February to address the supply glut. Prices responded swiftly, with cobalt sulphate values recording substantial gains as market participants adjusted to reduced availability. The latter half of 2025 saw the Asian market transition into a supply deficit as inventories depleted progressively. Chinese imports of intermediate cobalt products, particularly hydroxide, declined sharply compared to the previous year, with inbound shipments falling dramatically as the export ban constrained feedstock availability. Chinese refiners faced acute feedstock shortages, leading to significant reductions in domestic cobalt metal output. Some processors began evaluating alternative feedstock options, including using cobalt metal for salt production. On the demand side, the battery sector continued its structural shift toward lithium-iron-phosphate chemistries, with nickel-manganese-cobalt batteries maintaining a reduced market share. The DRC announced a quota system to replace the export ban from mid-October, though market participants anticipated that initial shipments under the new regime would not reach Asian markets until late in the year.
Cobalt is generally obtained as a by-product of nickel and copper extraction. It is a hard, lustrous, silver metal. It has applications in producing alloys. It is also used as catalysts, in batteries, etc.
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Production of alloys, colored pigments, catalysts, batteries, pharmaceuticals
Umicore, Glencore, Vale, Freeport-McMoRan, Freeport-McMoRan
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
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Cobalt and copper are obtained by reductive leaching. The leach solution is separated and added to a solvent extract, thereby separating cobalt and copper and giving cobalt in the aqueous raffinate, which is then precipitated using magnesium oxide, giving pure cobalt.
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