Cobalt Price Trend

Cobalt Price Trend, Index and Forecast

Track the latest insights on cobalt price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.

Cobalt Prices Outlook Q3 2025

• USA: USD 33225/MT
• China: USD 33067/MT
• Netherlands: USD 35461/MT
• United Kingdom: USD 34816/MT
• India: USD 33795/MT

Cobalt Price Chart

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During the third quarter of 2025, the cobalt prices in the USA reached 33225 USD/MT in September. Prices increased as battery and superalloy manufacturers expanded procurement in response to improving downstream output. Domestic processors navigated shifting availability of intermediate cobalt feed materials, while logistics around key refining hubs showed occasional congestion. Import dependency and trade flow adjustments contributed to upward pressure.

During the third quarter of 2025, the cobalt prices in China reached 33067 USD/MT in September. Prices moved upward as demand from electric vehicle and energy storage sectors strengthened. Refiners monitored intermediate supply from major African producing regions while adapting to periodic throughput modifications. Export-oriented producers adjusted inventories to meet rising overseas interest, influencing availability in domestic markets.

During the third quarter of 2025, the cobalt prices in the Netherlands reached 35461 USD/MT in September. Pricing increased as European alloy and chemical producers placed larger orders. Port operations in Rotterdam experienced variable vessel turnaround rates, shaping distribution efficiency. Refining units also faced higher operating expenses tied to input materials, prompting adjustments in offer levels throughout the quarter.

During the third quarter of 2025, the cobalt prices in the United Kingdom reached 34816 USD/MT in September. Prices rose as manufacturers serving aerospace, electronics, and advanced materials sectors increased purchasing. Import shipments experienced fluctuating arrival windows, influencing stock management. Currency considerations and movements in refined cobalt supply chains shaped contracting strategies among major distributors.

During the third quarter of 2025, the cobalt prices in India reached 33795 USD/MT in September. Prices increased with rising demand from battery applications and metallurgical industries. Import-reliant processors encountered changing freight availability, affecting procurement timing. Refinery output in several supplier regions fluctuated, prompting buyers to maintain more cautious inventory practices during the quarter.

Cobalt Prices Outlook Q2 2025

• USA: USD 32500/MT
• China: USD 32450/MT
• Netherlands: USD 35110/MT
• United Kingdom: USD 34100/MT
• India: USD 33100/MT

During the second quarter of 2025, the cobalt prices in the USA reached 32500 USD/MT in June. Cobalt prices in the USA were influenced by changes in the import flow of intermediate and refined materials, particularly from Africa and Asia. The electric vehicle and defense sectors maintained steady demand, while inventories at downstream manufacturers remained tightly managed. Logistics challenges, including port congestion on the West Coast, affected lead times. Fluctuations in energy and labor costs at processing and refining facilities also contributed to pricing pressures during the quarter.

During the second quarter of 2025, cobalt prices in China reached 32450 USD/MT in June. In China, cobalt prices were impacted by upstream supply availability from the Democratic Republic of the Congo, along with fluctuating costs of cobalt hydroxide imports. The demand from the battery and electronics sectors was dynamic, affected by variations in domestic electric vehicle production and export orders. Environmental compliance measures at refining facilities, combined with adjustments in strategic stockpiling by state enterprises, influenced the market's supply-demand balance throughout the quarter.

During the second quarter of 2025, the cobalt prices in the Netherlands reached 35110 USD/MT in June. Cobalt prices in the Netherlands were shaped by the role of Rotterdam as a key distribution hub for cobalt products entering the European market. Changes in customs clearance durations and container handling charges affected import dynamics. Demand from the aerospace and rechargeable battery sectors was steady, though procurement strategies shifted due to macroeconomic uncertainty. Market participants also adjusted sourcing routes to account for evolving trade patterns involving African-origin materials.

During the second quarter of 2025, the cobalt prices in the United Kingdom reached 34100 USD/MT in June. In the United Kingdom, cobalt prices were influenced by exchange rate volatility and shipping delays affecting inbound supplies from Asia and Africa. The aerospace and renewable energy sectors continued to support demand, while fluctuations in downstream battery manufacturing activity led to shifts in procurement volumes. Regulatory compliance requirements related to critical minerals created additional complexity in import documentation and sourcing, which had a downstream impact on transaction costs.

During the second quarter of 2025, the cobalt prices in India reached 33100 USD/MT in June. Cobalt prices in India were driven by variations in imported raw material costs and regional shipping rates, particularly for supplies from Africa and China. The demand from the electronics, defense, and battery manufacturing sectors was relatively steady, although changes in end-user purchasing cycles created fluctuations in order volumes. Domestic refining and blending operations experienced cost variability due to input energy prices and environmental control expenses, contributing to pricing shifts during the quarter.

Cobalt Prices Outlook Q1 2025

• USA: USD 29500/MT
• China: USD 34797/MT

Regional Coverage 

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the cobalt prices.

Europe Cobalt Price Trend

Q3 2025:

As per the cobalt price index, Europe recorded higher pricing, consistent with the increases in the Netherlands and the United Kingdom. Alloy producers across Germany, France, and the Benelux expanded material intake as industrial activity improved. Port operations in major hubs showed variable unloading speeds, influencing distributor planning. Refiners balanced production against changing input conditions, particularly concerning intermediate cobalt from global mining regions. Market participants also evaluated evolving environmental compliance factors, prompting selective adjustments in procurement volumes across the quarter.

Q2 2025:

European prices were influenced by constrained supply flows from African mining sources due to regulatory and logistical bottlenecks at origin. Refining activities in key hubs such as Belgium and Finland experienced variations in operating costs due to fluctuating energy prices and labor inputs. The demand from the electric vehicle, aerospace, and electronics sectors remained strong, but inventory planning among manufacturers was cautious. Trade compliance measures on critical minerals added complexity to cross-border transactions, contributing to cost fluctuations.

Detailed price information for cobalt can also be provided for an extensive list of European countries.

North America Cobalt Price Trend

Q3 2025:

As per the cobalt price index, North American prices rose this quarter in line with the increase observed in the USA. Battery producers and aerospace alloy manufacturers expanded procurement as output expectations improved. Import reliance shaped contracting behavior, as shipments from global refining hubs encountered occasional scheduling adjustments. Rail and trucking networks experienced intermittent congestion, affecting movement toward industrial centers. Some buyers reassessed sourcing diversification to maintain continuity in supply amid evolving international trade flows.

Q2 2025:

In North America, cobalt prices were impacted by shifts in procurement volumes from defense and automotive battery manufacturers, as well as changes in the availability of cobalt hydroxide from foreign suppliers. Transport disruptions along key Pacific and Gulf shipping routes affected delivery schedules. Refiners and processors in the United States and Canada faced cost pressures linked to regulatory compliance, energy prices, and evolving labor dynamics. Strategic purchasing decisions by downstream manufacturers also played a role in influencing regional price movements.

Specific cobalt historical data within the United States and Canada can also be provided.

Middle East and Africa Cobalt Price Trend

Q3 2025:

As per cobalt price chart, the prices in the Middle East and Africa fluctuated due to a complex interplay of factors, primarily driven by supply chain disruptions, seasonal demand shifts, and geopolitical influences.

Q2 2025:

The report explores the cobalt pricing trends and cobalt price chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Cobalt Price Trend

Q3 2025:

Asia Pacific pricing increased, reflecting upward movement in China and India. Battery manufacturers in East Asia recorded higher procurement linked to expanding electric mobility demand. Refiners across the region adapted throughput to match changing feedstock availability. Southeast Asian markets experienced variable import schedules due to vessel route modifications, influencing inventory cycles. Industrial users across South Asia also faced uneven transportation conditions, prompting periodic adjustments to purchasing strategies throughout the quarter.

Q2 2025:

Cobalt prices in the Asia Pacific region were shaped by a mix of dynamic demand from electric vehicle and battery producers in China, South Korea, and Japan, and variable inbound supply from Africa. Refining capacity utilization in China responded to policy shifts and raw material availability. Competitive sourcing across regional markets led to shifts in trade routes, while fluctuations in industrial power tariffs affected refining and smelting margins. Currency movements across multiple economies also impacted landed costs.

This cobalt price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Cobalt Price Trend

Q3 2025:

Latin America's cobalt market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in cobalt prices.

Q2 2025:

Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting Latin America’s ability to meet international demand consistently. Moreover, the cobalt price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing cobalt pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Cobalt Pricing Report, Market Analysis, and News

IMARC's latest publication, “Cobalt Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the cobalt market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of cobalt at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed cobalt prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting cobalt pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Cobalt Industry Analysis

The global cobalt industry size reached 241.3 Thousand Tons in 2025. By 2034, IMARC Group expects the market to reach 297.5 Thousand Tons, at a projected CAGR of 2.35% during 2026-2034. Rising deployment of electric vehicles, expanding battery manufacturing capacity, and continued usage in aerospace and metallurgical applications are central factors supporting growth. Refining diversification and shifts in global mining output further shape long-term market development.

Latest News and Developments:

• November 2025: Electra Battery Materials Corporation reactivated construction on its cobalt sulfate refinery in Ontario, after securing approximately USD 82 million in project financing. The facility, designed to produce about 6,500 tons of battery-grade cobalt annually, is intended to supply critical cobalt inputs for North American defense and industrial applications.
• October 2025: Electra Battery Materials Corporation launched a program to advance its Iron Creek cobalt-copper project, Idaho, as part of a broader strategy to integrate domestic cobalt feedstock into its North American critical minerals supply chain. The initiative supports U.S. efforts to reduce reliance on foreign sources by evaluating Idaho deposits for future feed into its refinery operations and diversifying cobalt supply for battery and industrial uses.
• May 2025: Cobalt Blue Holdings Ltd executed a supply contract with Glencore International AG to provide cobalt hydroxide feedstock to its planned Kwinana Cobalt Refinery. Under the agreement, Glencore has committed to supply up to 50% of the refinery’s feedstock requirements over a three-year period, significantly de-risking the project’s development and positioning Cobalt Blue as a strategic participant in global cobalt supply chains for battery and critical minerals applications.

Product Description

Cobalt is a hard, lustrous, and silver-gray metal that is found in the Earth's crust. It is combined with nickel and copper ores. It exists in several forms, including metallic cobalt and cobalt compounds such as cobalt oxide and salts. The element is known for its ferromagnetic properties, high melting point, and the ability to maintain strength at high temperatures. It finds application in the production of rechargeable batteries, magnets, jet engines, gas turbines, petroleum, and chemical industries. Additionally, it is used in hard metals, pigments, electroplating, and medical implants.

Cobalt offers numerous benefits, such as enhancing battery performance, increasing alloy strength, and improving wear resistance. It is also lauded for its thermal stability, high corrosion resistance, excellent magnetic properties, biocompatibility for medical applications, and significant role in sustainable energy technologies like electric vehicles (EVs) and renewable energy storage systems.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of cobalt pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting cobalt price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The cobalt price charts ensure our clients remain at the forefront of the industry.