Cobalt prices averaged USD 24,229 per metric ton in October, up 0.6% from September. On 31 October, the commodity traded at USD 24,271 per metric ton, up 0.5% from 30 September.
Prices remained at historically low levels in October. Excess supply from the Democratic Republic of Congo (DRC) and Indonesia has pushed down prices throughout the year. Chinese miner CMOC—which operates in the DRC—recently revealed that it had surpassed its full-year output guidance for 2024 by the end of Q3.
This chart displays Cobalt (US$/mt) from 2022 to 2024.
Cobalt (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Cobalt | 39,791 | 32,275 | 32,982 | 32,034 | 28,423 | 27,440 | 25,233 | - |