Cobalt Oxide Price Trend and Forecast 2026-2027

Market Overview

The United States held the priciest cobalt oxide of the markets we track through the first half of the year 2026 (H1 2026). Q2 closed at a value of USD 21.80/KG against Q1's USD 20.30/KG, up 7.4%. Defense and aerospace superalloy demand kept a premium bid under domestic material. Battery-localization efforts added their own pull on top of that. The global average moved from the USD 18.10/KG to a value of USD 19.40/KG, a gain of just a 7.2% percent. For the second half of 2026 (H2 2026), a range of an amount of USD 19.00 to 22.50/KG looks likely worldwide. Continued cobalt-feedstock tightness out of Congo's export quota system is what's holding it up.

Cobalt oxide, mainly Co3O4, is produced by hydrometallurgical refining of cobalt metal or mixed hydroxide precipitate, followed by thermal or co-precipitation processing to the target particle size and purity. Its single largest use is as a precursor for the cathode active materials in lithium-ion batteries. It feeds both the nickel-manganese-cobalt and lithium-cobalt-oxide chemistries. Consumer electronics keep the lithium-cobalt-oxide demand resilient even as the electric-vehicle cathodes trend toward the higher-nickel, lower-cobalt formulations. Specialty electronics, catalysts, and ceramic pigments round out the remaining volume.

Three considerations dominate the pricing picture.

• Cobalt hydroxide and metal feedstock costs out of the Democratic Republic of Congo.
• Chinese precursor-processing capacity utilization.
• The pace of battery and consumer-electronics demand.

Cobalt Oxide Price Forecast for 2026

The second half of 2026 (H2 2026) opened firm across every market as Congo's cobalt export quota system continued to constrain the feedstock availability. Chinese precursor processors, who handle roughly two-thirds of the global capacity, kept absorbing the higher input costs and passing them through. South Korean and Japanese battery-grade buyers competed for the same tightening supply. The United States carried the steepest premium of all, on the defense, aerospace, and battery-localization demand.

A couple of factors bear watching. Tighter enforcement of Congo's export quota, or a faster-than-expected consumer-electronics rebound for lithium-cobalt-oxide cells, could push the prices past the top of the range. An accelerated shift toward cobalt-light or cobalt-free cathode chemistries, or expanded Indonesian feedstock supply, could pull the market below the floor instead.

For the Quarter Ending June 2026

Cobalt Oxide Prices Q2 2026:

• China: USD 18.900/KG
• South Korea: USD 20.400/KG
• Japan: USD 19.600/KG
• United States: USD 21.800/KG

Cobalt Oxide Prices in China

China's cobalt-oxide precursor producers passed through another round of feedstock cost increases in Q2, as Congo's export quota kept the hydroxide supply tight. The gain came to a value of 7.4%, from USD 17.60/KG to USD 18.90/KG.

Why did the price of Cobalt Oxide change in Q2 2026 in China?

• Congo's cobalt export quota kept hydroxide feedstock tight.
• Battery-cathode demand held firm through the quarter.
• Precursor processors passed through higher feedstock costs, closing the quarter at USD 18.90/KG.

Cobalt Oxide Prices in South Korea

South Korea climbed by 7.4% to a value of USD 20.40/KG. The battery-cell makers competed for tightening feedstock supply alongside the rest of the region.

Why did the price of Cobalt Oxide change in Q2 2026 in South Korea?

• Battery-cell makers competed for tightening cobalt feedstock.
• Battery-grade specification requirements stayed strict.
• Quarter closed at USD 20.40/KG.

Cobalt Oxide Prices in Japan

Japan gained by 7.7% to a value of USD 19.60/KG. The resilient lithium-cobalt-oxide demand from consumer electronics added to the feedstock-driven climb.

Why did the price of Cobalt Oxide change in Q2 2026 in Japan?

• Consumer-electronics demand for lithium-cobalt-oxide cells stayed resilient.
• Feedstock costs climbed alongside the rest of the region.
• Quarter closed at USD 19.60/KG.

Cobalt Oxide Prices in the United States

The US cobalt oxide rose by 7.4% to a value of USD 21.80/KG. The defense and aerospace superalloy demand added a further premium on top of the global feedstock squeeze.

Why did the price of Cobalt Oxide change in Q2 2026 in United States?

• Defense and aerospace superalloy demand added a further premium.
• Battery-localization efforts kept domestic demand firm.
• Quarter closed at USD 21.80/KG.

For the Quarter Ending March 2026

Cobalt Oxide Prices Q1 2026:

• China: USD 17.600/KG
• South Korea: USD 19.000/KG
• Japan: USD 18.200/KG
• United States: USD 20.300/KG

Cobalt Oxide Prices in China

China's climb slowed to a value of 4.8% in Q1, reaching USD 17.60/KG. The pace of Congo's feedstock tightening eased slightly from late 2025's sharper moves.

Why did the price of Cobalt Oxide change in Q1 2026 in China?

• The pace of feedstock tightening eased slightly from late 2025.
• Battery-cathode demand stayed firm.
• Market settled at USD 17.60/KG.

Cobalt Oxide Prices in South Korea

South Korea gained by 5.0% to a value of USD 19.00/KG. The battery-cell utilization stayed firm as the year opened.

Why did the price of Cobalt Oxide change in Q1 2026 in South Korea?

• Battery-cell utilization stayed firm into the new year.
• Feedstock costs continued climbing, though at a slower pace.
• Quarter closed at USD 19.00/KG.

Cobalt Oxide Prices in Japan

Japan firmed by 4.6% to a value of USD 18.20/KG. The consumer-electronics demand for lithium-cobalt-oxide cells held steady.

Why did the price of Cobalt Oxide change in Q1 2026 in Japan?

• Consumer-electronics demand held steady into the new year.
• Feedstock costs kept climbing, though more gradually than in late 2025.
• Market settled at USD 18.20/KG.

Cobalt Oxide Prices in the United States

The US cobalt oxide gained by 5.2% to a value of USD 20.30/KG. The defense-sector demand stayed firm as the year began.

Why did the price of Cobalt Oxide change in Q1 2026 in United States?

• Defense and aerospace superalloy demand stayed firm.
• Feedstock costs continued their upward march.
• Quarter closed at USD 20.30/KG.

Quarterly Cobalt Oxide Price Trends

Few commodities moved as dramatically as cobalt oxide over this window. The global average nearly doubled, from the USD 10.10/KG in Q1 2025 to USD 19.40/KG by Q2 2026, a net gain of about 92.1 percent. The single steepest move came in Q3 2025, when Congo's cobalt export controls first tightened the hydroxide feedstock availability in earnest. Every quarter since has posted a gain. The pace has moderated since, though, as the market adjusted to the new, quota-constrained normal.

What was Cobalt Oxide Price in 2025?

The year 2025 was a dramatic year for cobalt oxide across every market we track. The global average opened near a value of USD 10.10/KG in Q1 and climbed in every single quarter to close Q4 at USD 17.25/KG, a full-year gain of 70.8 percent. China rose 71.4 percent, South Korea 70.8 percent, and Japan 70.6 percent, all moving in near lockstep with the tightening cobalt feedstock supply out of Congo. The United States gained the least in percentage terms, at a value of 69.3 percent, though it carried the highest absolute price throughout. Congo's export ban, followed by a formal quota system, was the single dominant force behind the year.

Cobalt Oxide Prices in China in 2025

China opened the year 2025 at a value of USD 9.80/KG and closed the year at USD 16.80/KG, a gain of 71.4 percent, among the steepest of the four markets. Congo's cobalt hydroxide export ban, followed by a formal quota system later in the year, drove the feedstock costs sharply higher at China's precursor-processing plants, which handle the bulk of the global capacity. The net direction for the year was dramatically higher, with Congo's export policy as the dominant driver.

Cobalt Oxide Prices in South Korea in 2025

South Korea opened the year 2025 at a value of USD 10.60/KG and closed at USD 18.10/KG, a gain of 70.8 percent. The battery-cell makers absorbed the same feedstock-cost pressure as the rest of the region. Tight battery-grade specification requirements kept a persistent premium in place too. The net direction for the year was sharply higher, with the feedstock tightness as the clear driver.

Cobalt Oxide Prices in Japan in 2025

Japan opened the year 2025 at a value of USD 10.20/KG and closed at USD 17.40/KG, a gain of 70.6 percent. The resilient lithium-cobalt-oxide demand from consumer electronics kept a floor under the market, even as the feedstock costs climbed steadily through the year. The net direction for the year was sharply higher, with the consumer-electronics demand reinforcing the feedstock-driven climb.

Cobalt Oxide Prices in the United States in 2025

The United States opened the year 2025 at a value of USD 11.40/KG and closed at USD 19.30/KG, a gain of 69.3 percent, the mildest in percentage terms though the highest in absolute price throughout. The defense and aerospace superalloy demand, plus growing battery-localization efforts, added a structural premium on top of the global feedstock squeeze. The net direction for the year was sharply higher, with the defense and localization demand as the added driver.

How We Can Help

Expert Market Research: Your Source for Real-Time Cobalt Oxide Price Intelligence

Expert Market Research keeps a continuous watch on the cobalt oxide pricing across every major producing and consuming region. A price alone says very little. Our analysts dig into what actually drives it: the cobalt hydroxide and metal feedstock economics out of Congo, Chinese precursor-processing capacity utilization, and the buying cycles of battery and consumer-electronics manufacturers. The forecasts draw on the feedstock trends, the capacity utilization, and the trade-flow shifts across all four reporting regions. Contact Expert Market Research today for the cobalt oxide pricing data, a bespoke market analysis, and a strategic procurement advisory.