Cobalt Prices

Cobalt prices averaged USD 31,535 per metric ton in March, up 45.2% from February. On 31 March, the commodity traded at USD 33,604 per metric ton, up 41.2% from 28 February.

Prices skyrocketed in March following late February’s announcement by top producer DRC that it would ban cobalt exports for four months. The country is considering extending the ban, introducing export quotas, and cooperating with key producer Indonesia to curb supply. Meanwhile, Chinese stockpiling also lifted prices.