Why are Cobalt Prices so high?
30-01-2026 - Over the past month, the price of cobalt has risen from $52,910.5/t to $55,844.0/t, indicating a strengthening market. This increase suggests potential supply constraints or heightened demand. The forecast predicts cobalt prices will reach $57,495.96/t, a 3.0% rise from the current $55,844.0/t, highlighting a general upward trend. However, this trend comes with the risk of market volatility affecting raw material prices.
The forecast points to upward price pressure on raw materials, primarily due to supply factors, with inventories having the most significant impact at $1,052.69/t. All data types, including demand, flows, and technical indicators, support this upward trend.
A report by Mysteel anticipates that in January 2026, after inventory digestion, downstream buyers will likely resume stockpiling, pushing cobalt sulfate prices higher. This increase will be supported by both high costs and demand recovery, with the monthly average price expected to be around Yuan 94,000-95,000/tonne. This outlook aligns with the forecasted upward trend in cobalt prices.
The forecast points to upward price pressure on raw materials, primarily due to supply factors, with inventories having the most significant impact at $1,052.69/t. All data types, including demand, flows, and technical indicators, support this upward trend.
A report by Mysteel anticipates that in January 2026, after inventory digestion, downstream buyers will likely resume stockpiling, pushing cobalt sulfate prices higher. This increase will be supported by both high costs and demand recovery, with the monthly average price expected to be around Yuan 94,000-95,000/tonne. This outlook aligns with the forecasted upward trend in cobalt prices.
What is the current / spot price of Cobalt?
Cobalt Price Today
January 30, 2026
Current Price
55844
$/t
What is the forecast for the price of Cobalt?
Cobalt Price Forecast
January 30, 2026
1 Month Forecast
57495.96
$/t
1 Year Forecast
47216.23
$/t
What are the short-term drivers of Cobalt prices?
Over the 1 Month horizon the outlook is bullish due to drivers such as: - Cobalt LME Delivered Out - Cobalt LME Cancelled Warrants - MSCI Europe Index - The net positions of speculators on the LME Br(None) The top contrary drivers for the 1 Month horizon are: - Short term price trends
What are the long-term drivers of Cobalt prices?
Over the 1 Year horizon the outlook is bearish due to drivers such as: - EWMA-based technical analysis - Long term price trends - Movements in the Congolese Franc Br(None) The top contrary drivers for the 1 Year horizon are: - Cobalt LME Closing Stock - The shape of the futures curve
Will the price of Cobalt go up?
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