ÌÇÐÄÆƽâ°æ

The futures price of cobalt ranged between * and * U.S. dollars per metric ton between August 2019 and October 2025. In October 2025, prices reached about * U.S. dollars per metric ton.

Futures vs. Spot prices

Futures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost ** billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was ** U.S. dollars per pound in 2022.

Cobalt in battery production

Cobalt is a primary component of producing batteries, particularly lithium-ion batteries, used in various electronic devices, especially electric vehicles (EVs). EV batteries require a specific amount of cobalt, while conventional vehicles do not. With an increasing demand for lithium-ion batteries in EVs as the EV industry advances, the global cobalt market volume is expected to increase continuously by 2025.