Why are Cobalt Prices so high?
06-02-2026 - Over the past month, cobalt prices have demonstrated slight stability, with a marginal increase from $55,830.0/t to $55,856.5/t, indicating a relatively steady market with minimal fluctuations. The forecast suggests an upward trend, predicting cobalt prices to reach $61,768.09/t, a 10.6% increase from the current $55,856.5/t. This anticipated rise is primarily driven by demand factors, with an expected price impact of $2,627.55 per ton. All data types, including demand, flows, supply, and technical indicators, support this trend.
Looking ahead, a report by Mysteel projects that in January 2026, after inventory digestion, downstream buyers will likely resume stockpiling. This activity is expected to drive cobalt sulfate prices higher, supported by both high costs and demand recovery. The monthly average price is projected to be around Yuan 94,000-95,000/tonne. This outlook aligns with the forecasted upward trend in cobalt prices, although potential market volatility remains a risk factor affecting raw material prices.
Looking ahead, a report by Mysteel projects that in January 2026, after inventory digestion, downstream buyers will likely resume stockpiling. This activity is expected to drive cobalt sulfate prices higher, supported by both high costs and demand recovery. The monthly average price is projected to be around Yuan 94,000-95,000/tonne. This outlook aligns with the forecasted upward trend in cobalt prices, although potential market volatility remains a risk factor affecting raw material prices.
What is the current / spot price of Cobalt?
Cobalt Price Today
February 6, 2026
Current Price
55856.5
$/t
What is the forecast for the price of Cobalt?
Cobalt Price Forecast
February 9, 2026
1 Month Forecast
61768.09
$/t
1 Year Forecast
44898.14
$/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 - Seasonality trends for the prediction week of year - MSCI Europe Index - MSCI Emerging Markets Europe Index - Movements in the Chinese Yuan Br(None)
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 - Short term price trends - Movements in the Congolese Franc Br(None) The top contrary drivers for the 1 Year horizon are: - Cobalt LME Closing Stock
Will the price of Cobalt go up?
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1 Week
1 Month
3 Month
6 Month
1 Year
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The Latest Cobalt News
ChAI Blog
[SMM Analysis] NCM Manufacturers Still Hold a "Buy on the Rise, Not on the Decline" Mentality
February 5, 2026
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