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 | Market note |
|---|---|---|
🌐 Standard-grade metal Global · benchmark | WarehouseBenchmark | Cut-cathode metal reference |
🇨🇳 China sulphate China · refiner hub | Battery-grade | Battery-grade sulphate premium over metal |
🇷🇺 Russia (Nornickel) Russia · byproduct | FOB | Nickel byproduct; buyer caution |
🇮🇩 Indonesia (HPAL MHP) Indonesia · fast-growing | Payable | HPAL byproduct hydroxide — payable discount |
🇨🇩 DRC hydroxide (payable) DR Congo · ~70% of supply | FOB payable | Intermediate payable % of metal; CMOC/Glencore |
Origin notes are qualitative context. Dollar differentials are not shown, because no public differential series is attached.
Track physical flows on the live vessel map →Converted from 33,069.34 USD/t · indicative FX
Cobalt is traded in the battery metals segment. The series on this page is the named public source, not a live feed. 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.