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Cobalt Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
A Slow Grind Down, Not a Single Crash Day
"Crash" usually conjures a single bad day. Cobalt's version played out differently — a slow, multi-year grind lower through 2023 and 2024 as oversupply built up, rather than one dramatic sell-off. By early 2025, prices had fallen to roughly their weakest level in nine years, a decline steady enough that it took a government export ban to actually interrupt it. Today's rate sits at ₹3.56 per gram, a figure that only makes sense in the context of that whole arc.
What makes this worth understanding isn't just the number — it's the mechanism. Cobalt didn't crash because demand collapsed. EV battery demand for nickel-rich chemistries kept growing through this period. It crashed because supply kept growing faster, for reasons that had very little to do with cobalt itself.
- 2023-2024: steady price decline driven by oversupply, not a demand shock
- Early 2025: price reaches roughly a nine-year low
- February 2025 onward: DRC export restrictions begin reshaping supply
Cobalt Price by Weight
Today's Cobalt rate is Four Rupees per gram. At this rate, 10 grams of Cobalt costs Thirty Six Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹3.56 | Four Rupees |
| 8 Grams | 8.0000 g | ₹28.50 | Twenty Nine Rupees |
| 10 Grams | 10.0000 g | ₹35.63 | Thirty Six Rupees |
| 100 Grams | 100.0000 g | ₹356.31 | Three Hundred and Fifty Six Rupees |
| 1 Kilogram | 1,000.0000 g | ₹3,563.08 | Three Thousand Five Hundred and Sixty Three Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹101.01 | One Hundred and One Rupees |
| 1 Troy Ounce | 31.1035 g | ₹110.82 | One Hundred and Eleven Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹3,563,080.00 | Thirty Five Lakh Sixty Three Thousand Eighty Rupees |
Why Byproduct Supply Made the Crash Worse Than Demand Alone Would Explain
Here's the part that makes cobalt's price behavior genuinely different from a metal like gold or lithium: most of it is produced as a byproduct of copper and nickel mining, not mined for its own sake. That means the usual self-correcting mechanism — a falling price discouraging new supply — barely applies. A copper or nickel mine keeps expanding because copper or nickel economics justify it, and the cobalt that comes along for the ride keeps hitting the market regardless of whether cobalt's own price makes sense for a dedicated cobalt operation.
The self-correction that didn't happen
In a normally-supplied metal, a nine-year price low would be expected to shut in higher-cost production and slow investment, eventually rebalancing the market on its own. Cobalt's 2023-2025 slide didn't play out that way, because the supply decisions driving it were being made on copper and nickel terms, not cobalt's. That's a large part of why it took a government intervention — the DRC's export ban — rather than the market's own price mechanism to actually change the supply picture.
It's also why the crash and the policy response are really one connected story rather than two separate events: the byproduct structure is what let oversupply run for as long as it did, and it's the same concentration of that byproduct supply in one country that gave a single government's export policy the power to reverse it.
Cobalt Price — Last 10 Days
The most recent Cobalt price on record (2026-09-17) is Four Rupees per gram. This is down by Less than One Rupees from the previous day's rate of ₹3.60.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-17 | ₹3.56 | -0.04 |
| 2026-09-16 | ₹3.60 | -0.06 |
| 2026-09-15 | ₹3.66 | -0.04 |
| 2026-09-14 | ₹3.70 | -0.04 |
| 2026-09-13 | ₹3.74 | +0.00 |
| 2026-09-12 | ₹3.74 | +0.00 |
| 2026-09-11 | ₹3.74 | -0.07 |
| 2026-09-10 | ₹3.81 | -0.09 |
| 2026-09-09 | ₹3.90 | -0.12 |
| 2026-09-08 | ₹4.01 | — |
What Investors and Buyers Should Take From This
The practical lesson isn't "cobalt always crashes" or "cobalt always recovers" — it's that cobalt's price cycle is driven by a genuinely unusual supply structure that most other tracked metals don't share. A buyer or investor watching cobalt has to watch copper and nickel mining investment decisions as much as cobalt-specific news, because that's often where the next supply shift actually originates.
Whether the current price environment holds, extends, or reverses again depends on variables that are genuinely uncertain today: whether the DRC's quota system stays in place through 2027, whether copper and nickel mining investment elsewhere adds a fresh wave of byproduct cobalt, and how battery chemistry demand evolves. None of that supports a firm prediction in either direction — only a clearer sense of which levers actually move this particular market.
Cobalt Price Crash — FAQs
Cobalt prices ground steadily lower through 2023 and 2024, driven mainly by oversupply, before bottoming at roughly a nine-year low in early 2025 — the low point that directly prompted the Democratic Republic of Congo's February 2025 export suspension.
Cobalt is produced mostly as a byproduct of copper and nickel mining, so its supply doesn't respond to cobalt's own price the way a primarily-mined metal's would. Copper and nickel mining expansion — decided on copper and nickel economics — kept adding cobalt output even as cobalt's own price fell, because the mines being built weren't built for cobalt's sake.
The DRC's export restrictions removed a large share of global supply from the market almost immediately, which is the kind of shock that typically supports price. Attributing the exact size of any subsequent recovery to the ban alone versus other demand-side factors is not something that can be stated with precision, but the timing and mechanism both point the same direction.
It's a real possibility worth watching rather than predicting. Cobalt's byproduct supply structure means fresh oversupply could return if copper or nickel mining investment keeps growing output regardless of cobalt's own price — the same dynamic that caused the last downturn hasn't gone away just because Congolese policy has changed.
