For the Quarter Ending December 2025
Cobalt Oxide Prices in Europe
- In Germany, the Cobalt Oxide Price Index rose quarter-over-quarter in Q4 2025, driven by surging raw material costs, tightening supply. The prices of Cobalt Oxide has been assessed at USD 16790 /MT- Europe (FOB) in December 2025.
- Cobalt Oxide production costs increased in Q4 2025 due to surging raw material and elevated natural gas prices.
- Demand outlook remained robust in 2025, supported by strengthening electric vehicle registrations.
- Global cobalt inventories thinned significantly in Q4 2025, transitioning to structural market tightness.
- Industrial production increased by 0.8% year-on-year in October 2025, supporting Cobalt Oxide demand.
- The Manufacturing Index trended contracting in December 2025, indicating a slowdown in economic activity.
- Retail sales grew by 1.1% year-on-year in November 2025, influencing consumer electronics demand.
- Producer Price Index declined by 2.5% year-on-year in December 2025, indicating decreasing input costs.
- Consumer Price Index rose by 1.8% year-on-year in December 2025, reflecting moderate inflation.
Why did the price of Cobalt Oxide change in December 2025 in Europe?
- Cobalt raw material costs surged in Q4 2025 due to DRC supply restrictions.
- Global cobalt inventories thinned significantly in Q4 2025, leading to market tightness.
- Elevated natural gas prices in 2025 increased energy costs for industrial production.
Cobalt Oxide Prices in North America
- In the United States, the Cobalt Oxide Price Index rose quarter-over-quarter in Q4 2025, driven by tightening supply.
- Production costs increased in Q4 2025, influenced by a 3.3% year-over-year rise in producer prices in December 2025.
- Demand strengthened in Q4 2025, supported by 2.0% year-over-year industrial production growth in December 2025.
- Retail sales increased 3.9% year-over-year in December 2025, indicating strong consumer spending.
- Cobalt raw material costs surged throughout 2025, exacerbated by DRC's export quota system in Q4 2025.
- Global cobalt supply tightened significantly in Q4 2025 following DRC's quota system implementation in October.
- Inventories experienced depletion in Q4 2025, leading to a tightening market balance.
- US Henry Hub natural gas spot prices strengthened in December 2025, increasing feedstock costs.
- A 4.4% unemployment rate in December 2025 supported consumer spending, bolstering demand.
- Consumer confidence at 89.1 in December 2025 bolstered demand for electronics and EVs.
Why did the price of Cobalt Oxide change in December 2025 in North America?
- Cobalt raw material costs surged in Q4 2025 due to DRC's new export quota system.
- Global cobalt supply tightened in Q4 2025 from reduced approved DRC export volumes.
- Strong industrial production, up 2.0% year-over-year in December 2025, boosted demand.
Cobalt Oxide Prices in APAC
- In China, the Cobalt Oxide Price Index rose quarter-over-quarter in Q4 2025, driven by increased feedstock costs.
- Cobalt hydroxide and metal prices quadrupled and doubled in 2025, substantially increasing production costs.
- Chinese refiners' cobalt hydroxide inventories eroded by late 2025, indicating acute physical shortages.
- China's industrial production grew 5.2% year-on-year in December 2025, supporting industrial demand.
- The Manufacturing Index expanded in December 2025, reflecting growth in the manufacturing sector.
- Weak retail sales growth of 0.9% and low CPI of 0.8% in December 2025 indicated subdued consumer demand.
- Negative PPI of -1.9% in December 2025 reflected falling producer prices, signaling weak industrial demand.
- Consumer confidence at 90.30 points in November 2025 reflected a cautious outlook, reducing discretionary purchases.
- The DRC lifted its cobalt export ban on October 16, 2025, but restricted Q4 2025 exports.
- Cobalt Oxide price forecast suggests upward pressure due to persistent supply constraints and robust industrial activity.
Why did the price of Cobalt Oxide change in December 2025 in APAC?
- Cobalt hydroxide and metal prices significantly increased in 2025, raising production costs.
- Chinese refiners' cobalt hydroxide inventories were eroded by late 2025, tightening supply.
- Weak consumer confidence and low retail sales impacted end-use demand in Q4 2025.
For the Quarter Ending September 2025
Cobalt Oxide Price in North America
- In the United States, the Cobalt Oxide Price Index remained stable in Q3 2025, with raw material prices flatlining despite DRC export controls.
- Production costs faced upward pressure from a 2.6% Producer Price Index increase in August 2025, alongside a 3.0% CPI rise in September 2025.
- However, industrial natural gas feedstock costs in the US weakened from July to September 2025, partially mitigating overall cost increases.
- Demand for cobalt-containing batteries, particularly for electric vehicles, strengthened in Q3 2025, boosting the Cobalt Oxide market.
- The portable electronics sector also showed recovery in Q3 2025, contributing positively to Cobalt Oxide demand.
- Sluggish industrial production, up only 0.1% in September 2025, indicated weak overall manufacturing activity.
- Despite strong retail sales (up 5.42% in September 2025), declining consumer confidence in September 2025 tempered demand.
- The global cobalt market remained oversupplied in 2025, while tight DRC export controls supported higher cobalt price levels.
Why did the price of Cobalt Oxide change in September 2025 in North America?
- Producer Price Index rose 2.6% in August 2025, increasing Cobalt Oxide production input costs.
- Industrial natural gas feedstock costs weakened July-September 2025, providing some downward cost relief.
- Tight DRC export controls in Q3 2025 supported higher cobalt price levels, impacting pricing.
Cobalt Oxide Price in Europe
- In Germany, the Cobalt Oxide Price Index rose quarter-over-quarter in Q3 2025, driven by tight feedstock supply.
- Production costs were influenced by stabilized raw material prices and elevated electricity costs in Q3 2025.
- Producer prices decreased by 1.7% in September 2025, partially offsetting general inflation of 2.4% CPI.
- Automotive demand for electric vehicles strengthened in Germany during September 2025, boosting consumption.
- Industrial production declined by 1.0% in September 2025, indicating weaker overall industrial demand.
- Cobalt product inventories tightened in Q3 2025 due to feedstock shortages and DRC export halt.
- Retail sales rose by 0.2% in September 2025, while unemployment remained stable at 6.3%.
- The Cobalt Oxide Price Index is expected to remain firm, supported by ongoing supply constraints and robust EV demand.
Why did the price of Cobalt Oxide change in September 2025 in Europe?
- Tightened cobalt product inventories from DRC export halt impacted supply in Q3 2025.
- Strong automotive demand for electric vehicles in Germany supported Cobalt Oxide consumption in September 2025.
- Bolstered cobalt raw material costs from DRC export controls increased production expenses in Q3 2025.
Cobalt Oxide Price in APAC
- In China, the Cobalt Oxide Price Index fell quarter-over-quarter in Q3 2025, influenced by contracting manufacturing activity.
- Cobalt Oxide demand outlook was mixed, with robust power battery output contrasting low consumer confidence (89.6 index).
- Production costs for Cobalt Oxide experienced downward pressure as producer prices declined 2.3% year-on-year in September 2025.
- Strong new energy vehicle production in China during the first eight months of 2025 supported Cobalt Oxide consumption.
- High-tech manufacturing output climbed in Q3 2025, indicating sustained demand for advanced applications.
- The Cobalt Oxide Price Index faced headwinds from a 0.3% year-on-year decline in consumer prices in September 2025.
- Industrial production growth of 6.5% year-on-year in September 2025 provided a bullish signal for Cobalt Oxide demand.
- Retail sales increased 3.0% year-on-year in September 2025, offering support for end-use product demand.
- A stable unemployment rate of 5.2% in September 2025 provided neutral support for consumer purchasing power.
Why did the price of Cobalt Oxide change in September 2025 in APAC?
- Producer prices declined 2.3% year-on-year in September 2025, reducing manufacturing input costs.
- Consumer confidence remained low at 89.6 in September 2025, dampening discretionary spending.
- Manufacturing activity contracted in September 2025, signaling weaker industrial demand.
