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standoff and broad decline: Q3 2026 Cobalt Price Review","hydroxide-standoff-and-broad-decline-q3-2026-cobalt-price-review","article/hydroxide-standoff-and-broad-decline-q3-2026-cobalt-price-review",{"_uid":556,"date":557,"tags":558,"editor":574,"content":584,"excerpt":879,"featured":51,"reporter":880,"component":891,"seo_title":892,"categories":893,"visibility":905,"data_vis_image":906,"featured_image":911,"seo_description":916,"side_panel_banner":755,"formattedDate":917,"formattedArticleDate":918},"6d8a6c53-0805-47df-9740-c570a0bded5b","2026-09-30 00:00",[559,562,565,568,571],{"slug":560,"name":561},"cobalt-prices","Cobalt prices",{"slug":563,"name":564},"drc","DRC",{"slug":566,"name":567},"quarterly-price-review","Quarterly Price Review",{"slug":569,"name":570},"mhp","MHP",{"slug":572,"name":573},"data-visualisation","Data Visualisation",[575],{"slug":576,"name":577,"content":578},"benjamin-roche","Benjamin Roche",{"job_title":579,"image":580,"bio":582,"linkedin":583},"Editor – Energy Transition Supply Chains",{"filename":581},"https://a.storyblok.com/f/287943243085208/800x800/66d6674fb8/benjamin-roche.png","Benjamin is Benchmark's Editor for Energy Transition Supply Chains, covering both upstream products like critical minerals and downstream products including energy storage systems and electric vehicles. He has previous experience covering trade flows, tariffs and the effects of geopolitics on supply chains.","https://www.linkedin.com/in/benjaminrochecontent/",{"type":585,"attrs":586,"content":587},"doc",{"backgroundColor":49},[588,631,639,689,701,723,745,756,765,773,782,804,813,821,829],{"type":589,"attrs":590,"content":591},"paragraph",{"textAlign":49},[592,600,612,617,626],{"text":593,"type":594,"marks":595},"Increased ","text",[596],{"type":597,"attrs":598},"textStyle",{"color":599},"#000000",{"text":601,"type":594,"marks":602},"DRC exports",[603,610],{"type":604,"attrs":605},"link",{"href":606,"uuid":607,"anchor":49,"target":608,"linktype":609},"/article/cobalt-copper-and-controls-drc-regional-spotlight","23058151-3c90-4933-a151-d618baff03e1","_blank","story",{"type":597,"attrs":611},{"color":599},{"text":613,"type":594,"marks":614}," led to cobalt hydroxide prices (CIF Asia) falling 31% to across Q3 to $17.25/lb ($38,030/tonne), while cobalt sulphate prices (EXW China) dropped nearly 30% to RMB 58,000/tonne ($8,642), according to ",[615],{"type":597,"attrs":616},{"color":599},{"text":618,"type":594,"marks":619},"Benchmark’s Cobalt Price Assessment",[620,624],{"type":604,"attrs":621},{"href":622,"uuid":49,"anchor":49,"target":608,"linktype":623},"https://www.benchmarkminerals.com/price-assessments","url",{"type":597,"attrs":625},{"color":599},{"text":627,"type":594,"marks":628},".",[629],{"type":597,"attrs":630},{"color":599},{"type":589,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":594,"marks":636},"EXW Europe cobalt metal prices eased about 11%, while CIF Asia MHP cobalt payables sank from 91.5% to 65.8% by mid September as a result of cheaper hydroxide offering an alternative.",[637],{"type":597,"attrs":638},{"color":599},{"type":589,"attrs":640,"content":641},{"textAlign":49},[642,647,656,661,670,675,684],{"text":643,"type":594,"marks":644},"“Q3 2026 has seen a broad decline in prices across the ",[645],{"type":597,"attrs":646},{"color":599},{"text":648,"type":594,"marks":649},"cobalt supply chain",[650,654],{"type":604,"attrs":651},{"href":652,"uuid":653,"anchor":49,"target":608,"linktype":609},"/article/cobalt-dominance-lithium-growth-graphite-heavyweight-africa-regional-spotlight","9fdec665-6d59-4eba-b2b2-712e2dc1c736",{"type":597,"attrs":655},{"color":599},{"text":657,"type":594,"marks":658}," as ",[659],{"type":597,"attrs":660},{"color":599},{"text":662,"type":594,"marks":663},"rising DRC-origin supply",[664,668],{"type":604,"attrs":665},{"href":666,"uuid":667,"anchor":49,"target":608,"linktype":609},"/article/uranium-volumes-in-exported-drc-cobalt-less-than-1-of-global-supply-benchmark-analysis-suggests","a18cd1b9-fccc-4dec-ada7-5d411e89883c",{"type":597,"attrs":669},{"color":599},{"text":671,"type":594,"marks":672}," succeeded the weak downstream buying ",[673],{"type":597,"attrs":674},{"color":599},{"text":676,"type":594,"marks":677},"that defined Q2",[678,682],{"type":604,"attrs":679},{"href":680,"uuid":681,"anchor":49,"target":608,"linktype":609},"/article/from-cautiously-bullish-to-downward-pressure-q2-cobalt-price-summary","5feddc20-4c31-4cc7-b674-cc09ab708b66",{"type":597,"attrs":683},{"color":599},{"text":685,"type":594,"marks":686},",” said George Ingall, a senior cobalt price analyst at Benchmark.",[687],{"type":597,"attrs":688},{"color":599},{"type":690,"attrs":691,"content":693},"heading",{"level":692,"textAlign":49},2,[694],{"text":695,"type":594,"marks":696},"Why did the cobalt hydroxide trade stall in August?",[697,699],{"type":597,"attrs":698},{"color":599},{"type":700},"bold",{"type":589,"attrs":702,"content":703},{"textAlign":49},[704,709,718],{"text":705,"type":594,"marks":706},"Benchmark's daily cobalt hydroxide assessment dropped to $22.50/lb in early August and held there, as ",[707],{"type":597,"attrs":708},{"color":599},{"text":710,"type":594,"marks":711},"no trades were confirmed",[712,716],{"type":604,"attrs":713},{"href":714,"uuid":715,"anchor":49,"target":608,"linktype":609},"/article/cobalt-hydroxide-market-stuck-in-wide-bid-offer-spread-as-sellers-reject-sub-20-bids","ca1fc1e5-3ce9-4425-b1c7-13576e16b2f7",{"type":597,"attrs":717},{"color":599},{"text":719,"type":594,"marks":720}," in the ten days to 26 August. The weekly index, which incorporates agreeing bids, offers, and sentiment during periods of low liquidity, fell over 11% week-on-week to $17.50/lb in mid August.",[721],{"type":597,"attrs":722},{"color":599},{"type":589,"attrs":724,"content":725},{"textAlign":49},[726,731,740],{"text":727,"type":594,"marks":728},"“The market ",[729],{"type":597,"attrs":730},{"color":599},{"text":732,"type":594,"marks":733},"fell into a stalemate",[734,738],{"type":604,"attrs":735},{"href":736,"uuid":737,"anchor":49,"target":608,"linktype":609},"/article/cobalt-hydroxide-has-a-5-lb-gap-between-bid-and-offer-and-nothing-is-crossing-it","fedce297-eb4d-4dd2-894f-5842c386443f",{"type":597,"attrs":739},{"color":599},{"text":741,"type":594,"marks":742},", with sellers unwilling to transact below $20.00/lb while buyers, holding adequate inventory against a soft battery order book, saw no reason to chase,” Ingall said.",[743],{"type":597,"attrs":744},{"color":599},{"type":746,"attrs":747},"blok",{"id":748,"body":749},"41f1862b-387e-40f2-baf1-5b862d4b55e7",[750],{"id":751,"_uid":752,"type":753,"component":754,"fixed_height":755,"use_fixed_height":50,"fixed_height_mobile":755,"fixed_height_tablet":755},"30410209","i-4fb22282-66e4-4dfd-925f-ef877fd8fc76","visualisation","ContentFlourish","",{"type":690,"attrs":757,"content":758},{"level":692,"textAlign":49},[759],{"text":760,"type":594,"marks":761},"Why did cobalt sulphate lead the decline in prices?",[762,764],{"type":597,"attrs":763},{"color":599},{"type":700},{"type":589,"attrs":766,"content":767},{"textAlign":49},[768],{"text":769,"type":594,"marks":770},"The recovery in material flow anticipated at the end of Q2 duly arrived, with DRC hydroxide imports into China exceeding 10,000 tonnes in June compared with roughly 2,000 tonnes in May. Sulphate held between RMB 80,000 and 85,000/tonne through most of July on stable NCM demand, before rising arrivals of hydroxide material pulled it down 2.4% on 29 July. Recyclers then discounted units, and it fell 6.7% week-on-week to RMB 70,000/tonne ($10,432) on 26 August as buyers held out ahead of pre-Golden Week stockpiling. Sulphate declined every week in September to RMB 58,000/tonne on 30 September.",[771],{"type":597,"attrs":772},{"color":599},{"type":690,"attrs":774,"content":775},{"level":692,"textAlign":49},[776],{"text":777,"type":594,"marks":778},"Why did MHP payables and metal follow lower?",[779,781],{"type":597,"attrs":780},{"color":599},{"type":700},{"type":589,"attrs":783,"content":784},{"textAlign":49},[785,790,799],{"text":786,"type":594,"marks":787},"Downstream buyers viewed 91% payables as too high in July, with cheaper hydroxide offering an alternative, and MHP ",[788],{"type":597,"attrs":789},{"color":599},{"text":791,"type":594,"marks":792},"payables",[793,797],{"type":604,"attrs":794},{"href":795,"uuid":796,"anchor":49,"target":608,"linktype":609},"/article/export-interventions-and-payables-under-pressure-q3-2026-black-mass-price-review","ab4fe86c-8b9c-4107-837c-925e27f3cf58",{"type":597,"attrs":798},{"color":599},{"text":800,"type":594,"marks":801}," sank as that gap widened. European metal held above $25.00/lb through August, as elevated hydroxide feedstock costs made extra production unviable, before easing as weak demand caught up.",[802],{"type":597,"attrs":803},{"color":599},{"type":690,"attrs":805,"content":806},{"level":692,"textAlign":49},[807],{"text":808,"type":594,"marks":809},"What should cobalt market participants watch for in Q4?",[810,812],{"type":597,"attrs":811},{"color":599},{"type":700},{"type":589,"attrs":814,"content":815},{"textAlign":49},[816],{"text":817,"type":594,"marks":818},"Benchmark will be watching whether trades finally cross the hydroxide bid-offer gap, and whether buyers return once Golden Week ends. DRC customs processes and quota implementation remain a swing factor for inflows into China, alongside further recycler discounting in sulphate.",[819],{"type":597,"attrs":820},{"color":599},{"type":690,"attrs":822,"content":823},{"level":692,"textAlign":49},[824],{"text":825,"type":594,"marks":826},"Read more Q3 Price Reviews",[827],{"type":597,"attrs":828},{"color":599},{"type":830,"content":831},"bullet_list",[832,845,855,867],{"type":833,"content":834},"list_item",[835],{"type":589,"attrs":836,"content":837},{"textAlign":49},[838],{"text":839,"type":594,"marks":840},"Mid-year production quotas and underwhelming NCM demand weaken market fundamentals: Q3 2026 Nickel Price Review",[841],{"type":604,"attrs":842},{"href":843,"uuid":844,"anchor":49,"target":608,"linktype":609},"/article/mid-year-production-quotas-and-underwhelming-ncm-demand-weaken-market-fundamentals-nickel-q3-2026-price-review","aeb4d7ca-7604-4b28-b860-2f8e563085a0",{"type":833,"content":846},[847],{"type":589,"attrs":848,"content":849},{"textAlign":49},[850],{"text":851,"type":594,"marks":852},"Export interventions and payables under pressure: Q3 2026 Black Mass Price Review",[853],{"type":604,"attrs":854},{"href":795,"uuid":796,"anchor":49,"target":608,"linktype":609},{"type":833,"content":856},[857],{"type":589,"attrs":858,"content":859},{"textAlign":49},[860],{"text":861,"type":594,"marks":862},"Ex-China heavy rare earths continue to surge: Q3 2026 Rare Earths Price Review",[863],{"type":604,"attrs":864},{"href":865,"uuid":866,"anchor":49,"target":608,"linktype":609},"/article/ex-china-heavy-rare-earths-continue-to-surge-q3-2026-rare-earths-price-review","c667c14e-f8b7-4ab6-8558-8ec901778ab2",{"type":833,"content":868},[869],{"type":589,"attrs":870,"content":871},{"textAlign":49},[872],{"text":873,"type":594,"marks":874},"Feedstock costs rise but AAM prices hold firm: Anode and Graphite Q3 2026 Price Review",[875],{"type":604,"attrs":876},{"href":877,"uuid":878,"anchor":49,"target":608,"linktype":609},"/article/feedstock-costs-rise-but-aam-prices-hold-firm-anode-and-graphite-q3-2026-price-review","de97d2ba-5af8-4efb-b17e-a6f58fd907bc","Increased DRC exports led to cobalt hydroxide prices (CIF Asia) falling 31% to across Q3 to $17.25/lb ($38,030/tonne), while cobalt sulphate prices (EXW China) dropped nearly 30% to RMB 58,000/tonne ($8,642), according to Benchmark’s Cobalt Price Assessment.\n\nEXW Europe cobalt metal prices eased about 11%, while CIF Asia MHP cobalt payables sank from 91.5% to 65.8% by mid September as a result of cheaper hydroxide offering an alternative.\n\n“Q3 2026 has seen a broad decline in prices across the cobalt supply chain as rising DRC-origin supply succeeded the weak downstream buying that defined Q2,” said George Ingall, a senior cobalt price analyst at Benchmark.",[881],{"slug":882,"name":883,"content":884},"george-ingall","George Ingall",{"job_title":885,"image":886,"bio":888,"linkedin":889,"markets_covered":890},"Senior Price Analyst - Rare Earths & Battery Minerals",{"filename":887},"https://a.storyblok.com/f/287943243085208/576x576/a492676b0f/george-ingall.png","George specialises in rare earths and battery minerals, with expertise in tracking market movements, pricing trends, and supply-demand dynamics across critical raw materials. Experienced in delivering clear market insights and analysis that support commercial strategy, investment decisions, and industry understanding in fast-evolving global commodities markets.","https://www.linkedin.com/in/georgeingall/","Rare Earths, Cobalt, Natural Graphite, Synthetic Graphite, Anode","article","Q3 2026 Cobalt Price Review",[894,896,899,902],{"slug":895,"name":115},"cobalt",{"slug":897,"name":898},"critical-minerals","Critical Minerals",{"slug":900,"name":901},"raw-materials","Raw Materials",{"slug":903,"name":904},"recycling","Recycling","public",{"id":907,"alt":755,"name":755,"focus":755,"title":755,"source":755,"filename":908,"copyright":755,"fieldtype":909,"meta_data":910,"is_external_url":50},225639194549431,"https://a.storyblok.com/f/287943243085208/1588x1420/72bda8805a/q3-2026-cobalt-sulphate-and-hydroxide-prices-usd_lb-2x.png","asset",{},{"id":912,"alt":755,"name":755,"focus":755,"title":755,"source":755,"filename":913,"copyright":755,"fieldtype":909,"meta_data":914,"is_external_url":50},212804656165866,"https://a.storyblok.com/f/287943243085208/1920x1080/a6842143c8/cobalt-3.png",{"size":915},"1920x1080","Increased DRC exports led to cobalt hydroxide prices (CIF Asia) falling 31% to across Q3 to $17.25/lb ($38,030/tonne), while cobalt sulphate prices (EXW China) dropped nearly 30%, according to Benchmark’s Cobalt Price Assessment.","Sep 30, 2026","30th September 2026",[],[],{"id":922,"uuid":923,"name":924,"slug":925,"full_slug":925,"content":926,"relatedArticles":930,"relatedVideos":931},120886048076734,"4b6fbcc0-7881-4fbb-92ee-06d1ed3f3cec","⚙️ Settings","settings",{"_uid":927,"component":925,"black_listed_email_domains":928,"_editable":929,"formattedDate":755,"formattedArticleDate":755},"8dcafbcc-28de-4388-a68e-6b41e24f31bb","direkt.se\nstreetwisereports.com\nalpha-sense.com\nafrica-energy.com\ntcs.com\nmm-markets.com\nsmr-premium.com\nsci99.com\nlondoncib.com\nyeb.com.br\nnewautomotive.org\nsina.com.cn\ngwstrategies.net\noliverwyman.com\ndazeinfo.com\ndataintelo.com\ninfyos.com\nevalueserve.com\ninsightwoo.com\ncrescendoanalytic.com\nipaglobal.com\nweare121.com\nzemek.com\nryancommodityinsights.com\nonyxsi.com\ncostmine.com\nnickhatchmining.com\naethoslabs.com\nmysteel.com\nbuzblox.com\nfutureproofconsulting.com.au\ncmgroup.net\noptelgroup.com\nberylls.com\nreputex.com\nnumber-three.net\nrobertdallison.com\nwsp.com\nafriforesight.com\npaydirt.com.au\nmetal.com\ninforma.com\nfelixstrategy.com\ncrisil.com\nantaike.com\nbatterymaterialsreview.com\nsrk.com\nglobaltrustgrp.com\nnapiermeridian.com\nprojectblue.com\nplutonic-rma.com\nrosaearth.io\ndrivesustainability.org\nminehub.com\nscsglobalservices.com\nLynxglobalintelligence.com\nsphera.com\nminespider.com\nc-resource.com\ntdi-sustainability.com\nkumi.consulting\nsc-insights.com\nkallanish.com\naboutenergy.co.uk\nenant.io\nopisnet.com\nacuitycommodities.com\nevinfocus.com\nsfa-oxford.com\ncrugroup.com\nwoodmac.com\nspglobal.com\nrolandberger.com\nrcsglobal.com\nnornik.ru\nlivista.energy\nihsmarkit.com\ncapitalightresearch.com\namegroup.com\ncapitalight.co\nsustainablelabs.io\ncommoditiesanalysis.co.uk\navicenne.com\nkearney.com\nnornickel.net\n5napier.com\nvoltility.net\ngf.com.cn\nhindenburgresearch.com\ndigbee.com\nadamasintel.com\nac-harvard.com\nsneresearch.com\ninventusbioenergy.com\nproactiveinvestors.com\nauroraer.com\nresourceworld.com\nbatteryline.com\norennia.com\nfastmarkets.com\nmsci.com\nbcg.com\nklinegroup.com\ndelta-ee.com\nskarnassociates.com\nricardo.com\ncleanhorizon.com\np3-group.com\naccenture.com\nporsche-consulting.com\numlaut.com\nadi-analytics.com\ncpmgroup.com\nilimarkets.com\nminviro.com\nmckinsey.com\ncicenergigune.com\ne4tech.com\nargusmedia.com\ndolbear.com\nerm.com\nlithium.org\nradiusq.com\ndigivla.com\njeri.co.jp\ntopology.com.tw\nsaurenergy.com\novaladvisory.com\ngsixenergy.com","\u003C!--#storyblok#{\"name\": \"settings\", \"space\": \"287943243085208\", \"uid\": \"8dcafbcc-28de-4388-a68e-6b41e24f31bb\", \"id\": \"120886048076734\"}-->",[],[],1790786716716]