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Cobalt Price — 10-Day Trend Behind the Drivers
All prices in ₹ per gram · daily rate, updated once per day
The Three Forces That Actually Move Cobalt's Price
Today's cobalt rate stands at ₹3.50 per gram, and behind every move in that number sit three interlocking forces: how concentrated the supply base is, how tightly that supply is tied to copper and nickel mining decisions rather than its own economics, and how fast EV battery demand is growing relative to the industry's longer-standing aerospace superalloy demand. Understanding these three well explains most of what shows up on the chart above.
Unlike a broadly diversified industrial metal mined in dozens of countries for dozens of end uses, cobalt's supply and demand are both concentrated in specific, identifiable places. That concentration is exactly why its price can move faster and further than a more diversified commodity's price in response to the same piece of news.
- Supply concentration: the Democratic Republic of Congo produces the large majority of world output, by a very wide margin
- Byproduct economics: most cobalt rides along with copper and nickel mining decisions
- Demand split: EV battery cathodes (NMC) alongside longer-standing aerospace superalloy use
Cobalt Price by Weight
Today's Cobalt rate is Four Rupees per gram. At this rate, 10 grams of Cobalt costs Thirty Five Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹3.50 | Four Rupees |
| 8 Grams | 8.0000 g | ₹28.01 | Twenty Eight Rupees |
| 10 Grams | 10.0000 g | ₹35.01 | Thirty Five Rupees |
| 100 Grams | 100.0000 g | ₹350.07 | Three Hundred and Fifty Rupees |
| 1 Kilogram | 1,000.0000 g | ₹3,500.71 | Three Thousand Five Hundred and One Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹99.24 | Ninety Nine Rupees |
| 1 Troy Ounce | 31.1035 g | ₹108.88 | One Hundred and Nine Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹3,500,710.00 | Thirty Five Lakh Seven Hundred and Ten Rupees |
Supply: One Country, and Someone Else's Mining Decision
The Democratic Republic of Congo's dominance in cobalt production is genuinely one of the most concentrated supply chains of any major industrial metal. That alone would make cobalt sensitive to single-country disruptions. Layer on top of it the fact that cobalt is very often produced as a byproduct of copper mining, and increasingly of nickel mining elsewhere in the world, and the picture gets more complicated still.
Why byproduct supply doesn't chase the cobalt price
A copper mining company deciding whether to expand a mine looks primarily at copper economics — the price of copper, the cost of extracting it, long-term copper demand. Whatever cobalt comes along with that ore is a bonus, not the reason the investment gets made. That means a rising cobalt price doesn't reliably pull new dedicated cobalt supply online the way it would for a metal mined on its own. Supply can stay tight even when prices climb, simply because the mining decisions that would add cobalt output are being made for entirely different reasons.
Currency also plays a role for anyone tracking this market from India. Cobalt is priced and traded internationally, largely in US dollars through London Metal Exchange references, so a weaker rupee raises the effective landed cost here even when the underlying dollar price of cobalt hasn't moved at all.
Cobalt Price — Last 10 Days
The most recent Cobalt price on record (2026-09-18) is Four Rupees per gram. This is down by Less than One Rupees from the previous day's rate of ₹3.55.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-18 | ₹3.50 | -0.05 |
| 2026-09-17 | ₹3.55 | -0.05 |
| 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 | — |
Demand: Two Genuinely Different Stories, Not One
Cathodes for lithium-ion EV batteries, particularly nickel-manganese-cobalt (NMC) chemistries, are the dominant modern driver of cobalt demand, and shifts in EV sales trends move this market directly. But cobalt also has a real, longer-standing use in superalloys for aerospace and jet engines, where its heat resistance is genuinely valuable, plus a smaller role in some industrial catalysts. That aerospace demand runs on its own cycle, tied to aircraft manufacturing and defense spending rather than EV adoption.
There's a real complicating factor on the battery side worth knowing about: some battery makers and automakers have publicly pursued lower-cobalt or cobalt-free chemistries, most notably lithium-iron-phosphate (LFP), partly in response to cobalt's supply-concentration risk and partly in response to sourcing and labor concerns in parts of the DRC's artisanal mining sector — a genuine, widely-reported industry concern that battery makers and regulators have publicly addressed. That shift, where it happens, works against cobalt demand growth even as overall EV sales keep rising.
Put these forces together — concentrated, inflexible supply and a demand picture split between a growing-but-diversifying battery market and a steadier aerospace market — and it becomes clear why cobalt's price behavior doesn't map cleanly onto either a pure battery-metal story like lithium's or a pure industrial-metal story like copper's. Anyone trying to make sense of a move in the chart above is really asking which of these forces shifted most recently.
What Affects Cobalt Price — FAQs
How concentrated cobalt supply is. The Democratic Republic of Congo produces the large majority of the world's cobalt, by a very wide margin, so any disruption there — logistics, policy, operational issues — carries outsized weight for the entire global price in a way that isn't true for a more geographically spread metal.
Because most cobalt is recovered as a byproduct of copper mining, and increasingly nickel mining, rather than mined on its own, new cobalt supply doesn't respond directly to the cobalt price. A mining company decides to expand copper or nickel output based on copper or nickel economics — the cobalt that comes along with it is almost a secondary consideration, which means cobalt supply can lag or overshoot demand in ways a primarily-mined metal wouldn't.
Substantially. Cathodes for lithium-ion EV batteries, particularly nickel-manganese-cobalt (NMC) chemistries, are the dominant modern demand driver for cobalt. Shifts in EV sales trends and in how much cobalt manufacturers use per battery both move this market directly.
Yes, though on a different cycle than EV batteries. Cobalt has a long-standing, real use in superalloys for aerospace and jet engines, valued for heat resistance, and that demand follows aircraft manufacturing and defense cycles rather than EV sales trends. It is a smaller but genuinely distinct demand pillar alongside batteries.
Yes, indirectly. Cobalt trades internationally on the London Metal Exchange, largely referenced in US dollars, so a weaker rupee raises the effective landed cost for Indian buyers even if the underlying dollar-denominated price hasn't moved. This is the same currency-translation effect that touches every internationally traded commodity, not something unique to cobalt.
