Cobalt

The trends and forces driving the cobalt market

From continued growth in demand and market share for electric vehicles to the build-up of energy storage systems, cobalt is key in the global transformation to new energy sources. But there is a lack of diversity in the supply chain for battery and automakers. Roughly 70% of mined cobalt comes from the Democratic Republic of Congo – where the supply and reputational risks for manufacturers are well known – and 70% of cobalt processing occurs in China.

Logistics and shipping disruptions are still a key issue, and high prices for the battery material continue. In response, we’re seeing an even greater need for the recycling of cobalt for electric vehicles.

We provide data-driven insights and analysis to help you understand the market further. From cobalt price data to futures contracts, forecasts to market news, our experts provide you with intelligence on what’s driving the cobalt market.

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    • Cobalt 99.8% Co min, ex-works China, yuan/tonne
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    What’s happening in the cobalt market?

    The structure of the cobalt market is changing as new, more diverse supply is brought to market and ESG considerations come more into focus. Get the latest cobalt news and analysis from our expert price reporters, analysts and researchers.

    European automotive OEMs and Tier 1 suppliers are facing a period of unprecedented market uncertainty.

    Military readiness relies on a narrow set of industrial inputs that enable advanced systems to function under extreme conditions. As supply chains become more complicated and politicised, securing reliable access to these materials is emerging as a strategic challenge for the defense industry.

    An interview in which Andrea Hotter spoke with Jon Stibbs, managing editor for technology and energy metals, to explore a growing concern for global defense supply chains.

    The Democratic Republic of Congo’s (DRC) move to extend its export window for cobalt quotas has been viewed as potentially easing supply tightness, although the immediate market reaction has been limited.

    The Democratic Republic of the Congo (DRC) may have exported less than half of the volumes allocated to miners for the fourth quarter of 2025, extended to the end of the first quarter of 2026, under the country’s new quota system, sources told Fastmarkets in the week to Wednesday March 25.

    Blue Moon Metals’ acquisition of the past-producing Apex mine in Utah from Canadian miner Teck Resources is the latest example of the push to boost gallium and germanium production in the West. But for miners seeking to cash in on higher prices of these metals, smelting arrangements remain a question.

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