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Cobalt Price Today
Last updated: April 30, 2026 at 10:00 AM EDT ET · Source: COMEX / LBMA
Calculate Cobalt Value
1 Grams (g) of Cobalt
$816.63
Spot price: $25,400.00/oz
Rate: 1 USD = 1 USD
Approximate value - excludes taxes, premiums
Exchange rates are indicative. Actual buy/sell prices include dealer premiums. Not financial advice.
Price by Weight
| Unit | USD Price |
|---|---|
| Troy Ounce (oz t) | $25,400.00 |
| Gram (g) | $816.63 |
| Kilogram (kg) | $816,628.35 |
| Tola (10g) | $8,166.28 |
| Pennyweight (dwt) | $1,270.00 |
Price by Currency (per troy oz)
| Currency | Price |
|---|---|
| 🇺🇸USD | $25,400.00 |
| 🇨🇦CAD | CA$34,544.00 |
| 🇪🇺EUR | €23,368.00 |
| 🇬🇧GBP | £20,066.00 |
| 🇦🇺AUD | A$39,116.00 |
| 🇨🇭CHF | Fr22,860.00 |
| 🇯🇵JPY | ¥3,898,900 |
| 🇮🇳INR | ₹2,118,360 |
Exchange rates are approximate. Source: COMEX / LBMA
About Cobalt
Cobalt is one of the most controversial metals in the clean energy transition — simultaneously indispensable for EV batteries and deeply problematic for its supply chain. Approximately 70% of the world's cobalt production comes from the Democratic Republic of Congo (DRC), a country plagued by political instability, corruption, and well-documented artisanal mining operations that employ child labor under dangerous conditions.
Cobalt plays a critical role in lithium-ion battery cathodes (NMC and LCO chemistries), providing thermal stability and preventing battery fires. It is also essential in superalloys for jet engines and gas turbines, hard metals for cutting tools, and as a catalyst in petroleum refining. The battery sector now accounts for over 50% of total cobalt demand, up from just 20% a decade ago.
The ethical concerns around DRC cobalt have accelerated research into cobalt-free battery chemistries. Tesla has moved toward cobalt-free LFP (lithium iron phosphate) batteries in its standard-range vehicles, and battery manufacturers are developing high-nickel cathodes that dramatically reduce cobalt content. These trends have created persistent downward pressure on cobalt prices, which collapsed from over $95,000/ton in 2018 to below $30,000/ton by 2023-24.
Battery recycling is increasingly seen as the long-term solution to cobalt supply risk. As EV fleets reach end-of-life, recycled cobalt could supply a growing share of battery demand, reducing dependence on Congolese mines. Major mining companies including Glencore (which controls significant DRC production) are investing in recycling infrastructure to capture this emerging market.
Frequently Asked Questions
Why does the DRC dominate cobalt supply?
The Democratic Republic of Congo sits on approximately 50% of the world's known cobalt reserves, primarily in the Katanga copper belt. Cobalt is typically a byproduct of copper and nickel mining. The DRC's geological advantage is immense, but political instability, infrastructure deficits, and governance challenges make supply reliability a persistent risk. Glencore, China Molybdenum, and Eurasian Resources Group are among the major operators.
What are the ethical concerns about cobalt mining?
Artisanal small-scale mining (ASM) in the DRC employs an estimated 150,000-200,000 people, including children, in dangerous hand-dug mines with minimal safety equipment. NGOs, journalists, and human rights organizations have documented child labor, tunnel collapses, and toxic dust exposure. Tech companies and automakers have faced pressure to trace and certify their cobalt supply chains, driving adoption of blockchain-based traceability systems.
Are battery makers reducing cobalt use?
Yes — reducing or eliminating cobalt is a major battery industry priority. Tesla's LFP (lithium iron phosphate) batteries contain zero cobalt and are now used in all standard-range models globally. NMC cathodes have evolved from NMC 111 (equal parts Ni, Mn, Co) toward NMC 811 (80% nickel, 10% manganese, 10% cobalt), dramatically reducing cobalt per kWh. Solid-state batteries, expected commercially in the late 2020s, may further reduce cobalt dependency.
What drives cobalt price volatility?
Cobalt prices are driven by EV battery demand growth, DRC supply disruptions, Chinese stockpiling activity (China controls ~80% of cobalt refining), battery chemistry shifts (NMC vs LFP adoption), and macro risk sentiment. Prices swung from $30,000/ton in 2016 to $95,000/ton in 2018, then crashed back to $25,000-$30,000/ton as DRC supply surged and LFP adoption accelerated.
How is cobalt priced and traded?
Cobalt does not have a highly liquid exchange-traded futures market like gold or copper. Prices are primarily set through bilateral contracts between miners, refiners, and battery manufacturers. The London Metal Exchange (LME) does offer a cobalt futures contract, but liquidity is limited. Metal Bulletin and Fastmarkets publish indicative spot prices widely used by the industry.