What it is
A hard, bluish metal that is almost always a by-product of copper or nickel mining. Its main uses are the cathodes of rechargeable batteries and the heat-resistant alloys in jet engines.
How it is usually quoted
US dollars per tonne on the LME; often US dollars per pound in the trade.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
London Metal Exchange (LME); a cash-settled contract is listed on CME.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Demand for batteries, and whether battery makers choose chemistries that use less cobalt
- Output and export policy in the Democratic Republic of the Congo
- The rate of copper and nickel mining, since cobalt comes with them
- Refining capacity, most of which is in China
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
The Democratic Republic of the Congo is by far the leading source of mined cobalt, with Indonesia a distant second. Most refining is done in China.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Cobalt is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.