Cobalt
Cobalt decreased 2,955 USD/MT or 5.69% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
Historically, Cobalt reached an all time high of 95250 in March of 2018. Cobalt - data, forecasts, historical chart - was last updated on January of 2023.
Cobalt is expected to trade at 48098.40 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 45491.60 in 12 months time.
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Cobalt
Cobalt is a hard, lustrous, grey metal with a high melting point (1493°C). Cobalt is used mainly in the production of chemicals (58 percent), superalloys for gas turbine blades and jet aircraft engines, special steel, carbides, diamond tools, and magnets. By far, the biggest producer of cobalt is DR Congo (more than 50%) followed by Russia (4%), Australia, the Philippines, and Cuba. Cobalt futures are available for trading on The London Metal Exchange (LME). The standard contact has a size of 1 tonne. Futures contracts for Cobalt are financial instruments that allow producers, large consumers, and speculators, to offset or assume the risk of a price change of holding a quantity of Cobalt over time. Prices for Cobalt displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.
Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
---|---|---|---|---|---|---|---|---|
49000.00 | 49000.00 | 95250.00 | 21750.00 | 2010 - 2023 | USD/MT | Daily |
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