The current spot price for raw cobalt in the US is $24,229.22. This figure represents the market value for immediate delivery of the metal.
Understanding Cobalt's Value
The price of raw cobalt, often referred to as its spot price, reflects its value for immediate purchase and delivery. This value is dynamic and influenced by various factors, including global demand from industries like electric vehicles and electronics, supply chain dynamics, and geopolitical events.
Recent Price Trends for US Cobalt Spot Price
The value of cobalt is not static; it fluctuates based on market conditions. Here's a snapshot of recent trends for the US Cobalt Spot Price:
| Metric | Value | Change from Previous Period |
|---|---|---|
| Current Spot Price | $24,229.22 | N/A |
| Last Month's Price | $24,080.36 | +0.62% |
| Last Year's Price | $32,982.75 | -26.54% |
As shown, the current price indicates a slight increase of 0.62% compared to last month. However, looking at the broader picture, the price has decreased significantly by 26.54% over the past year, reflecting notable shifts in the market or supply-demand balance over a longer period.
