Benchmark: Standard-grade cobalt metal (Fastmarkets). The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Price | vs benchmark | Market note |
|---|---|---|---|---|
🌐 Standard-grade metal Global · benchmark | Warehouse | 33,600.00 | Benchmark | Cut-cathode metal reference |
🇨🇳 China sulphate China · refiner hub | Battery-grade | 35,000.00 | +1,400.00 (+4.2%)narrowing | Battery-grade sulphate premium over metal |
🇷🇺 Russia (Nornickel) Russia · byproduct | FOB | 32,700.00 | -900.00 (-2.7%)narrowing | Nickel byproduct; buyer caution |
🇮🇩 Indonesia (HPAL MHP) Indonesia · fast-growing | Payable | 28,400.00 | -5,200.00 (-15.5%)narrowing | HPAL byproduct hydroxide — payable discount |
🇨🇩 DRC hydroxide (payable) DR Congo · ~70% of supply | FOB payable | 26,800.00 | -6,800.00 (-20.2%)stable | Intermediate payable % of metal; CMOC/Glencore |
Differentials are indicative desk assessments over the live benchmark — 90-day spread trend shown per origin.
Track physical flows on the live vessel map →Indicative term structure · Contango
Converted from 33,600.00 USD/t · indicative FX
Cobalt is traded in the battery metals segment, with price discovery referenced against LME. The chart above shows the trailing indicative price path. Physical parcels of Cobalt can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Battery-grade carbonate remains under pressure amid ample spodumene supply and cautious restocking, though some producers signal output curtailments.
Spot payables firmed modestly as some producers held back units, though ample metal stocks limit the upside for refined cobalt.
Proposed licensing measures in a key producing region could lengthen lead times for several battery and rare-earth inputs, traders warn.