The futures price of cobalt ranged between 28,000 and 82,000 U.S. dollars per metric ton between August 2019 and August 2023. The impact of the COVID-19 crisis can be appreciated between March and July 2020, when cobalt futures prices dropped to around 28,500 U.S. dollars per metric ton. The first significant increase in this figure following the beginning of the pandemic was in August 2020, followed by a generalized increase throughout 2021 to the reach a peak of 81,860 U.S. dollars in March 2022.
Futures vs. Spot prices
Futures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost 30 billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was 31 U.S. dollars per pound in 2022.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Investing.com. (September 27, 2023). Futures price of cobalt worldwide from August 2019 to August 2023 (in U.S. dollars per metric ton) [Graph]. In Statista. Retrieved June 18, 2024, from https://www.statista.com/statistics/1171975/global-monthly-price-of-cobalt/
Investing.com. "Futures price of cobalt worldwide from August 2019 to August 2023 (in U.S. dollars per metric ton)." Chart. September 27, 2023. Statista. Accessed June 18, 2024. https://www.statista.com/statistics/1171975/global-monthly-price-of-cobalt/
Investing.com. (2023). Futures price of cobalt worldwide from August 2019 to August 2023 (in U.S. dollars per metric ton). Statista. Statista Inc.. Accessed: June 18, 2024. https://www.statista.com/statistics/1171975/global-monthly-price-of-cobalt/
Investing.com. "Futures Price of Cobalt Worldwide from August 2019 to August 2023 (in U.S. Dollars per Metric Ton)." Statista, Statista Inc., 27 Sep 2023, https://www.statista.com/statistics/1171975/global-monthly-price-of-cobalt/
Investing.com, Futures price of cobalt worldwide from August 2019 to August 2023 (in U.S. dollars per metric ton) Statista, https://www.statista.com/statistics/1171975/global-monthly-price-of-cobalt/ (last visited June 18, 2024)
Futures price of cobalt worldwide from August 2019 to August 2023 (in U.S. dollars per metric ton) [Graph], Investing.com, September 27, 2023. [Online]. Available: https://www.statista.com/statistics/1171975/global-monthly-price-of-cobalt/