Home / Cobalt Price / Norway
🇳🇴 Cobalt Price Today in Norway | kr358,450
Live cobalt price in Norwegian Krone (NOK) — updated every minute
Last updated: May 5, 2026, 12:57 AM ET
Price (NOK)
kr358,450
Price (USD)
$33,500
USD/Cobalt Spot
$33,500.00
USD/NOK Rate
1 USD = 10.7 NOK
About Cobalt
Cobalt is a critical battery material used in lithium-ion cathodes for EVs and consumer electronics. The Democratic Republic of Congo (DRC) produces approximately 70% of global cobalt, creating significant supply chain and ethical sourcing concerns. Cobalt prices surged above $95,000/metric ton in 2018 then crashed to below $25,000 by 2023 due to oversupply from DRC.
Cobalt price in Norway: what drives it?
Cobalt occupies a unique position as both a battery metal and a strategic mineral with extreme geographic concentration of supply. The push to reduce cobalt intensity in batteries creates headwinds, while structural EV demand growth creates tailwinds. Supply chain ethical concerns remain a significant factor for multinational buyers. The cobalt price in Norway is determined by the global USD spot price multiplied by the USD/NOK exchange rate.
Frequently Asked Questions — Cobalt in Norway
What is the cobalt price today in Norway?
Cobalt prices in Norway are converted from the international spot price (typically USD per metric ton) to Norwegian Krone. The LME launched a cobalt futures contract in 2010, though OTC transactions remain common for large industrial volumes.
Why is most cobalt mined in the DRC?
The Democratic Republic of Congo holds approximately 50% of the world's known cobalt reserves in the "Copper Belt" region. The richness and accessibility of DRC ore bodies, combined with historically low production costs, have made it the dominant supplier. However, human rights concerns around artisanal mining have driven automakers to seek alternative sourcing.
Are battery makers trying to reduce cobalt use?
Yes. High cobalt prices in 2017–2018 and ethical sourcing concerns accelerated research into lower-cobalt and cobalt-free chemistries. LFP (lithium iron phosphate) batteries contain zero cobalt. NMC 811 batteries use less cobalt than older NMC 111 chemistries. Tesla has pioneered cobalt-free battery approaches.
What is cobalt used for besides batteries?
Beyond batteries (~50% of demand), cobalt is used in superalloys for jet engines and gas turbines (~20%), hard metals and cutting tools (cemented carbides), samarium-cobalt magnets, drying agents in paints, and as a blue pigment (cobalt blue) in glass and ceramics.
Is cobalt a conflict mineral?
Cobalt sourced from certain DRC areas is classified under OECD guidelines as a potential conflict mineral due to documented risks of financing armed groups and human rights abuses. Major tech companies and automakers have committed to responsible sourcing programs and supply chain audits.