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Cobalt
Commodity
·
USD/t
$33,420
Cobalt (Co) is used in lithium-ion batteries and high-strength alloys
Cobalt is a hard, silvery metal used to make strong, corrosion and heat-resistant alloys and permanent magnents.
Congo accounts for approximately 70% of global cobalt production, followed by Russia. Australia has more than 16% of global cobalt resources but produces only 6% of supply, according to Cobalt Blue (2021).
Cobalt futures can be traded on the London Metal Exchange (LME).