Prices
Updated: June 9, 2026| Exchange / Source | Price | Unit | Date |
|---|---|---|---|
| Spot | $45,387 | USD/t | June 9, 2026 |
Indicative reference snapshot. Official prices at lme.com.
About Cobalt
Editorial overviewWhat is cobalt?
Cobalt is a metallic element used mainly in high-performance alloys, chemicals, and batteries. It is also an important byproduct metal in several nickel and copper mining systems. USGS MCS 2026
How cobalt is priced
Cobalt trades on multiple officially regulated exchanges. Each publishes its own daily settlement, fixing or auction reference price for its specific contract — there is no single “world price”. The complete list of active regulated venues for cobalt:
- London Metal Exchange (UK) — Cobalt (CO), USD, Physical
- COMEX (CME Group) (USA) — Cobalt Metal (Fastmarkets) (COB), USD, Cash [ref: Fastmarkets MB Cobalt standard grade, in-warehouse Rotterdam — administered by Fastmarkets]; Cobalt Hydroxide CIF China (Fastmarkets), USD, Cash [ref: Fastmarkets MB Cobalt hydroxide payable indicator min 30% Co CIF China — administered by Fastmarkets]
Principle: One True Source for All. Every officially regulated exchange with an active contract is listed, regardless of geography or sanctions. Cash-settled contracts list both the listing exchange (where the contract clears) and the underlying benchmark index used for final settlement. Fastmarkets, S&P Global Platts and Argus are regulated benchmark administrators under UK/EU BMR, not exchanges. Source: TSM exchanges registry (maintained from public regulatory and exchange filings).
Where cobalt comes from
According to USGS MCS 2026, the top mined-cobalt countries in 2025 were Congo (Kinshasa) with 230,000 metric tons, Indonesia with 44,000 metric tons, Madagascar with 3,900 metric tons, Australia with 3,700 metric tons, and the Philippines with 3,700 metric tons. USGS says Congo (Kinshasa) accounted for 73% of world mine output and Indonesia for 14%. Full breakdown in the production and reserves sections.
Who produces cobalt
USGS says China remained the leading producer of refined cobalt, while major mining and/or refining producers include Glencore, CMOC, and Jinchuan Group in China, plus ERG in Kazakhstan and Vale in Canada. USGS MCS 2026, Glencore Full list of producers below.
What cobalt is used for
USGS reports that in the United States, 51% of cobalt consumed in 2025 went to superalloys, 25% to chemical applications, 15% to other metallic applications, and 9% to cemented carbides. The Cobalt Institute describes cobalt as a key component of lithium-ion batteries and notes additional use in electronic devices, renewable energy storage, jet engines, power plants, and pigments. USGS MCS 2026, Cobalt Institute
Key facts about cobalt supply
- USGS MCS 2026: world cobalt mine production in 2025 was 310,000 metric tons, against 12,000,000 metric tons of reserves.
- USGS MCS 2026: Congo (Kinshasa) supplied 230,000 metric tons, or 73% of world mine output, in 2025.
- USGS MCS 2026: Indonesia produced 44,000 metric tons of cobalt in 2025, equal to 14% of world supply.
- USGS MCS 2026: world reserves divided by 2025 mine production imply about 38.7 years of cover (12,000,000 / 310,000).
- USGS MCS 2026: cobalt content of purchased scrap represented 25% of estimated U.S. consumption in 2025.
Sources: USGS MCS 2026 Cobalt PDF, Cobalt Institute About Cobalt, Glencore
Mine Production by Country
Source: USGS MCS 2026| Country | 2024 | 2025e | Reserves |
|---|---|---|---|
| United States | e200 | e300 | 70,000 |
| Australia | e4,780 | e3,700 | 1,700,000 |
| Canada | e3,350 | e3,500 | 220,000 |
| China | e2,000 | e2,000 | 160,000 |
| Congo (Kinshasa) | e226,000 | e230,000 | 6,000,000 |
| Cuba | e3,450 | e2,000 | 500,000 |
| Indonesia | e35,000 | e44,000 | 760,000 |
| Madagascar | e3,100 | e3,900 | 100,000 |
| Papua New Guinea | e2,630 | e2,800 | 84,000 |
| Philippines | e3,100 | e3,700 | 260,000 |
| Russia | e8,000 | e7,700 | 800,000 |
| Turkey | e2,200 | e1,900 | 91,000 |
| Other countries | e7,780 | e9,100 | 780,000 |
| World total (rounded) | 302,000 | 310,000 | 12,000,000 |
Unit: metric tons. "e" = estimated, "W" = withheld, "NA" = not available. Source: USGS Mineral Commodity Summaries 2026
Reserves by Country (Top 10)
Source: USGS MCS 2026| Country | Reserves (metric tons) |
|---|---|
| Congo (Kinshasa) | 6,000,000 |
| Australia | 1,700,000 |
| Russia | 800,000 |
| Other countries | 780,000 |
| Indonesia | 760,000 |
| Cuba | 500,000 |
| Philippines | 260,000 |
| Canada | 220,000 |
| China | 160,000 |
| Madagascar | 100,000 |
| World Total | 12,000,000 |
Major Producers (20)
Ranked by latest disclosed cobalt productionCompanies ranked by most recently disclosed annual cobalt production (Co, tonnes). Each card links to the primary source (annual report, production report, or exchange filing). "Not disclosed" means the company does not publish metal-specific tonnage — common for private Chinese/state-owned groups and pre-production projects.
China
603993
114,165
t Co
FY2024
Luxembourg
Private
19,000
t Co
calendar 2024
China (Hong Kong listed; subsidiary of China Minmetals Corp.)
1208
2,926
t Co
FY2024
Sweden
BOL
Undisclosed Output
Not disclosed
Calendar 2024
Primary sources confirm nickel production from Kevitsa (6% of mines sales FY2024) but no separate cobalt disclosure despite low Co grades in reserves.
China
300919
Undisclosed Output
Not disclosed
N/A
No cobalt (Co metal) production in tonnes disclosed in primary filings; company produces cobalt-based precursors/tetroxide (market share 28% Co3O4), sales aggregate >300kt Ni-Co products (secondary source). Likely no primary Co production or not disclosed sepa…
Morocco
N/A (Managem: MNG
Undisclosed Output
Not disclosed
N/A
Subsidiary of Managem (99.77%). Reduced production in 2024 due to low Co prices (preserve resource), no tonnes disclosed in accessible primary reports. Capacity ~2,400 tpy metal (secondary sources). FY calendar.
China
301219
Undisclosed Output
Not disclosed
Calendar
No Co production (t Co) in primary annual report summaries or performance filings reviewed; only qualitative growth mentions. Secondary sources report ~20,500 t (FY2024) but not primary.
Canada
LUN
Undisclosed Output
Not disclosed
FY2025
Eagle Mine produced 9,907 t Ni and 8,906 t Cu in FY2025 (calendar 2025); cobalt mentioned as minor by-product but no production tonnage disclosed in annual MD&A or results.
Russia
GMKN
Undisclosed Output
Not disclosed
Calendar
Cobalt produced at Kola MMC; fire in 2022 reduced capacity to ~1,000 t, new facility launched 2025 with 3,000 t capacity, but actual FY24/25 output not reported in primary docs.
Indonesia
NCKL
Undisclosed Output
Not disclosed
FY2024
JV Harita Nickel (NCKL 63.1%)/Lygend Resources (36.9%). Produces Ni-Co MHP, sulfates. Actual Ni production disclosed (e.g. HPL H1: 33k t Ni cont. MHP), but no Co.
Indonesia
SSE:603799
Undisclosed Output
Not disclosed
N/A
Private Indonesian JV of Zhejiang Huayou Cobalt (603799 · SSE). No specific annual Co production (t Co contained) in primary filings; only aggregate nickel intermediates (230kt Ni) and quarterly from minority owner reports. Design capacity ~7,800 t Co/year.
China
002340
Undisclosed Output
Not disclosed
FY2024
Primary source discloses cobalt product sales: 20,664 t Co3O4 (product weight, FY2024), 12,557 t other Co products (product weight, FY2024). No contained cobalt metal production figure found.
Finland
Private
Undisclosed Output
Not disclosed
calendar 2024
Privately held (56.1% Finnish Minerals Group); reports battery chemicals sales EUR 196.7M FY2024 but no volume breakdown by metal
Wanbao Mining (subsidiary of Norinco / China North Industries Group)
China
Undisclosed Output
Not disclosed
N/A
Cobalt resources: 55万 t (2010s data [51job Norinco page](http://campus.51job.com/norinco2021/company2.html)). Sales: 7,000 t Co (pre-2018 [BUAA](https://sem.buaa.edu.cn/info/1039/10140.htm)). Pumpi mine design: 5,000 t Co hydroxide/year (2021 [Copperbelt](http…
#20Ambatovy Nickel (Sherritt 12%, Korea Resources Corp 27.5%, SNC-Lavalin 5%, Sumitomo Corp 54.167%)
Canada/Korea/Japan (operations in Madagascar)
Subsidiary → TSX:S
Latest News
All metals news →Frequently Asked Questions
Auto-generated from primary-source dataWhat is the current price of cobalt?
As of June 9, 2026, Cobalt traded at $45,387 USD/t on Spot. Prices update multiple times per business day on TSM Hub from exchange and benchmark feeds.
Which countries produce the most cobalt?
The largest cobalt producing countries are Congo (Kinshasa) (e226,000 metric tons), Indonesia (e35,000 metric tons), Russia (e8,000 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Which countries hold the largest cobalt reserves?
The countries with the largest reported cobalt reserves are Congo (Kinshasa) (6,000,000 metric tons), Australia (1,700,000 metric tons), Russia (800,000 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Who are the largest global producers of cobalt?
Among 780+ producers tracked on TSM Hub, the largest disclosed cobalt producers include CMOC Group Ltd. (China Molybdenum Co., Ltd.) (China), Zhejiang Huayou Cobalt Co., Ltd. (China), Glencore plc (Switzerland). Some operating cobalt producers do not publish metal-specific tonnage — such as Boliden AB (Sweden), CNGR Advanced Material Co., Ltd. (China), Compagnie de Tifnout Tighanimine (CTT) – subsidiary of Groupe Managem (Morocco) — and are listed with an “Undisclosed Output” badge instead of a rank, in line with our principle of never inventing numbers absent from primary sources. Full ranking with primary-source links is available in the producers section.
Where can I find official cobalt price data?
Official cobalt prices are published by Spot. TSM Hub aggregates these feeds under licensed market-data redistributor agreements and updates them twice daily.
What is the primary source for cobalt production and reserves data?
Country-level cobalt production and reserves figures on TSM Hub are sourced directly from the USGS Mineral Commodity Summaries 2026, the U.S. Geological Survey's authoritative annual reference. Company-level production figures come from each producer's official annual report, production report, or regulated exchange filing.