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.

Subscribing to our cobalt insights will give you access to:

Looking for the latest cobalt news, market intelligence and price reporting?

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.

Australia-based Sunrise Energy Metals is searching for a location in the US to build a nickel-cobalt refinery, the company confirmed to Fastmarkets

Uncertainty over growing bullish sentiment in the cobalt market is among the main conversation topics likely to feature in meetings throughout LME Week, which runs from October 9-13

The combination of slow demand and oversupply has been putting pressure on the price for cobalt, with part of that pressure coming from the changing preference in battery chemistry toward lithium-iron-phosphate (LFP) batteries and away from nickel-cobalt-manganese (NCM) batteries

The cobalt hydroxide market has increasingly switched to conducting transactions on an outright $ per lb basis in 2023, due to cobalt metal price volatility and uncertainty in the hydroxide market

Australia-based cobalt and nickel supplier Jervois Global has opted to ‘moderate’ the pace of restart operations at its Sao Miguel Paulista (SMP) cobalt and nickel refinery in Sao Paulo, Brazil

China’s automotive output and sales both fell in July, on a month-on-month and year-on-year basis, because of reduced seasonal demand in the summer season and the higher base in July 2022, the China Association of Automobile Manufacturers (CAAM) said this week

How can we help you?
Our price data, forecasts and market intelligence will help give you a strategic edge and greater transparency on what’s ahead for the cobalt market.

Trade on market-reflective prices

Access critical short- and long-term forecasts in a new generation of energy markets

Gain a competitive edge in the emerging battery recycling market

Providing greater transparency into the cost of key Li-ion cell components

Enable risk management using futures contracts

Keep on top of volatility with battery materials news and intel

Search cobalt prices
    • Cobalt mixed hydroxide precipitate payable indicator, % cobalt metal standard grade in-whs Rotterdam, cif China, Japan, and South Korea
    • Cobalt mixed hydroxide precipitate, outright price, cif China, Japan, and South Korea, $/tonne
    • Cobalt hydroxide, min 30% Co, inferred, China, $/Ib

    Discover how Fastmarkets NewGen can help you stay ahead of the competition

    Meet some of the team behind our cobalt insights and intelligence

    We recognize the importance of being clear about our price assessment and index process. Our independently audited pricing process aligns with core IOSCO principles. Find out how our price reporters and analysts assess and forecast prices in agriculture, forest products and metals

    Talk to us
    Whether you’re interested in learning how to become a customer from our sales teams or looking to get in touch with one of our reporters, we’re here for you.

    Speak to our team
    Why use a price reporting agency?
    Navigate uncertainty and make business decisions with confidence using our price data, forecasts and critical intelligence.

    Learn more
    Fastmarkets combines the commodity intelligence of these familiar names:

    Metal Bulletin • American Metal Market • Scrap Price Bulletin • Industrial Minerals • RISI • FOEX • The Jacobsen • Agricensus • Random Lengths • FastMarkets and more