Cobalt Price
Strategic Metal
Essential for Li-ion battery cathodes (NMC, NCA — ~70% of demand), superalloys for jet engines, and hard metal carbides. ~74% of mine production from DRC; ~80% of refining in China. Subject to artisanal mining human rights concerns.
Last update: 2026-04-04
4 records
4 records
Retail Reference
$146/kg
Metal 99.98%
· 191 g
discountelements (eBay)
· US
· 2026-04-04
Retail Premium: 6.0×
Bulk Benchmark
$24/kg
Metal 99.3%+
LME / Fastmarkets
· CIF
· 2026-03-15
Applications
| Application | Role | Significance |
|---|---|---|
| Lithium-ion batteries | Cathode active materials: NCM, NCA, LCO | ~70% of Co demand. Energy density and cycle life improver in NMC/NCA EV batteries; LCO dominates portable electronics. |
| Superalloys | Co-based and Co-containing Ni superalloys | Jet-engine turbine blades, vanes, combustors. Operates at temperatures Ni alone cannot reach. |
| Cemented carbide binder | Co binder phase in WC–Co cutting tools | Standard ductile binder for tungsten carbide cutting inserts and mining tools |
| Magnets | SmCo high-temperature magnets, AlNiCo | SmCo magnets retain strength to 350 °C; defence and aerospace applications |
| Catalysts | Co-based Fischer–Tropsch and HDS catalysts | Gas-to-liquids fuel synthesis (Sasol, Shell Pearl) and refinery hydrodesulfurisation |
Market & Supply
Global mine production
~290,000 t Co/year [3]
DRC mine share
~75%
China refining share
~75%
Source
Cu/Ni by-product (DRC, Indonesia)
Export control
Not on MOFCOM list
LME cobalt
$22–$32/kg (2025)
Co sulfate (battery-grade)
$10–$14/kg (Co content)
Retail metal (1 kg)
$80–$220/kg
Verified Offers
Cobalt is a true LME-quoted commodity (Co Cash and 3-month contracts). Retail listings in the auto-rendered table show kilogram-scale ingots and shot at the standard Western retail premium over LME pricing.
| Date | Form | Purity | USD/kg | Seller | Country |
|---|---|---|---|---|---|
| 2026-03-15 | Metal | 99.3%+ | $24 | LME / Fastmarkets | \u2014 |
| 2026-03-15 | Metal | 99.9% (3N) | $540 | Metallos.de | DE |
| 2026-04-04 | Metal | 99.98% | $146 | discountelements (eBay) | US |
| 2026-04-04 | Metal | 99.95% | $2815 | emovendo (eBay) | US |
Important Notes
DRC concentration risk
Roughly 75% of global Co mine output comes from the Democratic Republic of the Congo, much of it through Chinese-owned operations (CMOC, Huayou). Artisanal mining accounts for ~15–20%, raising ESG and child-labour scrutiny.
LFP cathode shift suppresses Co demand growth
The shift in EV battery chemistry toward LFP (lithium iron phosphate) reduces Co intensity per kWh. CATL, BYD, and Tesla have moved standard-range EVs to LFP, capping Co demand growth even as total EV battery output rises.
Indonesian HPAL nickel-cobalt
New Indonesian high-pressure acid leach (HPAL) projects produce mixed hydroxide precipitate containing Ni and Co. This creates a non-DRC Co supply stream — mostly Chinese-financed — and pressures DRC pricing.
Physical Properties [1]
Z: 27 · Ar: 58.933 u · ρ: 8.90 g/cm3 · Tm: 1,495 °C · Tb: 2,927 °CCrystal: hcp · Config: [Ar]3d74s2 · Ox. states: -3 to +5 (most: +2, +3)
References
- Wolfram Alpha, “Cobalt element.” wolframalpha.com.
- London Metal Exchange, “LME Cobalt” product specifications. lme.com.
- United States Geological Survey, Mineral Commodity Summaries 2025: Cobalt, January 2025.