Live Cobalt Prices Today

*Scroll down to learn how titanium is priced.

In 2022, the U.S. government classified cobalt as a critical energy metal due to its importance to national security and the economy. Cobalt is primarily used in the production of rechargeable lithium-ion batteries, making it a cornerstone of the electric vehicle and energy storage sectors. Beyond batteries, cobalt alloys are also essential in aerospace, medical devices, and high-performance industrial applications due to their strength and heat resistance.

Cobalt is not traded on major public commodities exchanges like the LME in the same way as copper or aluminum, but instead through private contracts, long-term supply agreements, and OTC deals. Prices are often referenced from surveys and assessments provided by price reporting agencies such as Fastmarkets, Asian Metal, and Platts. As of Q2 of 2025, cobalt metal is priced at approximately $33,000 USD per metric ton, while cobalt sulfate and other battery-grade chemicals trade at different levels depending on purity and contract terms.

Monitoring Cobalt Prices

For real-time updates and historical data on cobalt prices, consider the following resources:

• Fastmarkets: Industry-standard for cobalt price assessments.
• Shanghai Metals Market (SMM): Provides daily updates on cobalt metal and salts.
• Trading Economics: Offers forecasts and historical data on cobalt prices.
• Business Analytiq: Features regional price indexes and market analysis (businessanalytiq.com).

The cobalt futures contract is a key market instrument that tracks the price of cobalt over time on exchanges such as the London Metal Exchange (LME). It reflects the benchmark value of cobalt traded in standardized lots, typically quoted in U.S. dollars per metric ton. These futures provide producers, manufacturers, and investors with a way to hedge against price volatility or speculate on future market trends. Analysts and traders use cobalt futures to monitor supply-and-demand dynamics in the cobalt industry, which is critical for sectors such as electric vehicle batteries, aerospace, and high-performance industrial applications.

Cobalt Futures on TradingView

• Cobalt is a strategic metal essential for national security and the global economy, especially in batteries, aerospace, medical, and industrial sectors.
• Battery Industry: Key component in lithium-ion batteries for electric vehicles, electronics, and energy storage. Major buyers include Tesla, CATL, and LG Chem.
• Aerospace & Industrial: Cobalt-based superalloys are used in jet engines, gas turbines, and high-performance equipment due to extreme heat and stress resistance.
• Medical Applications: Cobalt alloys are used in orthopedic and dental implants, valued for biocompatibility and durability.
• Production: Mostly a byproduct of copper and nickel mining. The DRC supplies over 70% of global cobalt, while China dominates refining. Other producers include Canada, Australia, and Russia.
• Regulatory & Environmental Factors: Concerns over artisanal mining, labor practices, and environmental impact drive stricter regulations and growth in ethical sourcing and recycling.