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Cobalt price today: live

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Cobalt is priced on the LME and via Fastmarkets OTC assessments. The DRC produces ~70% of global cobalt supply. A DRC export ban (Feb-Oct 2025) drove prices from <$10/lb to $22+/lb; the 2026 quota system (96,600t nationally) is the primary price mechanism.

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Chart proxy: Cobalt has no liquid public futures. BATT ETF includes cobalt-linked battery materials exposure.

Price history

Cobalt price chart

Amplify Battery Tech ETF (BATT)USD
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Note: Cobalt has no liquid public futures. BATT ETF includes cobalt-linked battery materials exposure.
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Cobalt mining stocks

Major producers

Source: Yahoo Finance + SEC EDGARFull screener →
#CompanyCommodity revenuePrice24h %YTD1YGeography
01
GLNCY
Glencore (GLEN.L)
Largest Western cobalt producer. Katanga Mining (DRC) + Mutanda (DRC). Force majeure declared on cobalt deliveries during 2025 ban. Also major zinc, copper, coal trader. Cobalt ~3% of group revenue.
~3%
————DRC · Global marketing
02
CMCLF
CMOC Group (CMCLF ADR)
Tenke Fungurume (DRC) + Kisanfu (DRC). World's largest cobalt producer post-2022 acquisitions. 2024 cobalt production ~114kt. 2026 DRC quota 31,200t. China-listed; strategic state backing.
~25%
————DRC · China · Brazil
03
VALE
Vale S.A.
Voisey's Bay (Canada): cobalt as by-product of nickel-copper mining. Vale Base Metals (VBM) subsidiary. Cobalt <2% of group revenue.
~2%
————Canada · Brazil
04
NICMF
Nickel Industries (NICMF ADR)
Indonesian HPAL operations produce cobalt as a by-product of nickel sulphate. HPAL cobalt is growing as Indonesian HPAL capacity expands.
~8%
————Indonesia
05
AREC
Electra Battery Materials
Only cobalt refinery under development in North America (Ontario, Canada). Partnered with Glencore, Ford, Volkswagen. Pre-revenue; targeting 5,000t/yr cobalt sulfate capacity.
~0%
————Canada (Ontario, pre-revenue)
Reddit sentiment

Producer stock buzz

Powered by Adanos · Reddit
BatteryCurated top 5

Cobalt producer stocks

All commodity stocks
#CompanyTickerPrice24h %ExchangeNote
01
CMOC Group
OTC: CMCLF / HKEX: 3993
CMCLF----OTCTenke Fungurume + Kisanfu DRC — OTC
02
Sumitomo Metal Mining
OTC: SMMYY / TSE: 5713
SMMYY----OTCCoral Bay + Taganito HPAL — OTC ADR

Ranked by commodity exposure (30%+ rule). Source: CommoditiesTracker hub database, June 2026.

Cobalt ETFs

Top funds by AUM

Source: Yahoo Finance + ETF issuer pagesAll cobalt ETFs →
TickerFundStructureExpense ratioAUMYTD1Y
BATT
Amplify Lithium & Battery Tech ETF
Amplify
Miners0.59%———
REMX
VanEck Rare Earth/Strategic Metals
VanEck
Miners0.53%———
LIT
Global X Lithium & Battery Tech ETF
Global X
Miners0.75%———

How cobalt prices move

What’s moving this market

Structural fundamentals · Reviewed annually
Supply

DRC controls 70%+ of cobalt mine supply

The DRC (Democratic Republic of Congo) produces over 70% of global cobalt as a byproduct of copper mining. CMOC (China) and Glencore (Switzerland) are the two dominant operators. In February 2025, the DRC's ARECOMS imposed an export ban that pushed prices from under $10/lb to $22+/lb before being lifted October 16, 2025, replaced by a quota system. The 2026 national quota is 96,600t, with CMOC allocated 31,200t.

ARECOMS · Cobalt Institute
Demand

EV batteries drive demand but LFP is the structural bear

Battery cathodes account for roughly 70-75% of cobalt demand (NCM/NCA chemistry). The remaining 25-30% is industrial applications (superalloys, catalysts, magnets). The structural bear thesis: LFP (lithium iron phosphate) battery chemistry uses zero cobalt and has grown from ~10% to ~65% of global EV battery production by 2025. This limits long-run cobalt demand growth despite rising EV volumes.

Benchmark Mineral Intelligence · Cobalt Institute
Policy and macro

DRC quota policy and Chinese refining dominance

China controls ~80% of global cobalt refining capacity. The DRC-China supply chain dominance creates geopolitical exposure for Western battery makers. The 2026 DRC quota system is designed to support cobalt prices above operating costs for DRC producers. Child labor concerns in artisanal DRC cobalt mining remain a supply chain ESG risk for battery makers.

ARECOMS · Cobalt Institute

Key market data

Cobalt fundamentals

Annual Demand
~185kt

Battery cathodes ~70-75% (NCM/NCA), superalloys ~10%, catalysts ~8%, magnets and other ~12%. Battery demand growth is partially offset by LFP cathode substitution (cobalt-free).

Cobalt Institute · Roskill · Annual
Annual Mine Supply
~200kt

DRC ~70%+ (CMOC 31,200t 2026 quota, Glencore similar). Congo's Tenke Fungurume (CMOC) and Mutanda (Glencore) are the world's two largest cobalt mines. Indonesia growing as HPAL cobalt by-product.

USGS · Cobalt Institute
China Refining Share
~80%

China refines roughly 80% of global cobalt into battery-grade sulfate and hydroxide. CMOC, Zhejiang Huayou Cobalt, and GEM are the largest Chinese refiners. Western battery makers are actively trying to diversify away from Chinese-processed cobalt.

Cobalt Institute · Benchmark Mineral Intelligence
DRC Mine Supply Share
~72%

DRC produced ~150kt of cobalt in 2025 despite the export ban disruption. The 2026 quota of 96,600t is below actual production capacity, supporting prices.

USGS · ARECOMS · 2026
LFP Battery Share
~65%

LFP (lithium iron phosphate, cobalt-free) has grown from ~10% of EV batteries in 2020 to ~65% in 2025, primarily driven by China. Tesla has shifted most of its standard-range models to LFP. This is the central structural bear argument on cobalt demand.

Benchmark Mineral Intelligence · SNE Research
Price Volatility (90-day)
~45%

Very high volatility due to thin market, DRC policy dependence, and binary events. The 2025 export ban-to-quota transition drove one of the largest intra-year commodity moves.

Calculated · Daily
2026 price forecasts

Cobalt price targets from 20 analysts

Aggregated 2026 price forecasts from major banks, research houses, and industry bodies. Range, median, and revision history — every forecast linked to its source.

Consensus range
View forecasts
See all forecasts

How to invest in cobalt

Ways to gain cobalt exposure

Full investing guide
ETFs

Cobalt ETFs

The most accessible vehicle for retail investors. Trade like stocks, low expense ratios.

Equities

Cobalt stocks

Mining and producer stocks offer 1.5-3x leverage to the underlying commodity but carry operational risk.

Futures

Cobalt futures

COMEX / LME / NYMEX futures provide direct price exposure with leverage. Requires a futures-enabled brokerage account.

Frequently asked questions

Common questions, answered

The cobalt price shown on this page is the LME cobalt cash price and/or Fastmarkets MB cobalt standard grade OTC assessment, updated daily. Cobalt does not have a highly liquid exchange contract; most physical transactions occur OTC with prices referenced to Fastmarkets or Argus assessments.