Commodity ratio · live
Cobalt to Magnesium Ratio
The cobalt to magnesium ratio is 3.331 — Cobalt at $56,290.00 per Metric Ton divided by Magnesium at $16,900.00 per Metric Ton.
Prices as of Aug 24, 2026, 11:17 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Cobalt to Magnesium ratio
1.000 T of cobalt = 3.331 T of magnesium
Inverse (MG/COB): 0.3002 — one Metric Ton of magnesium buys that much cobalt.
Near the top of its 1 year range — historically stretched. (95th percentile of the last 1 year)
Cobalt
$56,290.00
per Metric Ton
Magnesium
¥16,900.00
per Metric Ton
Unit basis: USD per Metric Ton ÷ CNY per Metric Ton. The ratio reads as Metric Tons of magnesium per Metric Ton of cobalt. Prices as of Mon, 24 Aug 2026 11:17:46 GMT.
These two commodities are quoted in different currencies (USD and CNY). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
2.979
median 3.180
1Y low
1.812
Aug 25, 2025
1Y high
3.412
Jul 19, 2026
Normal band
2.528–3.430
mean ± 1 std dev
Deviation from mean
+0.78σ
358 observations
Cobalt to Magnesium ratio charts
Pick a range once — it applies to the COB/MG ratio line, the OHLC candles and the Cobalt / Magnesium price chart below.
COB/MG ratio line
How many T of Magnesium one T of Cobalt buys, over 1Y.
COB/MG ratio candles
Open, high, low and close of the COB/MG ratio for each period in the last 1Y.
Cobalt and Magnesium prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the cobalt to magnesium ratio
Cobalt to Magnesium ratio = Cobalt price per Metric Ton ÷ Magnesium price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of magnesium per Metric Ton of cobalt — rather than a plain count.
Worked example, live prices: $56,290.00 ÷ $16,900.00 = 3.331. The inverse is 0.3002.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4640.70 |
| 2 | XAG | Silver | 68.90 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.88 |
| 5 | NG-FUT | Natural Gas Futures | 2.78 |
| 6 | PL | Platinum | 1883.84 |
| 7 | PA | Palladium | 1350.90 |
Frequently asked questions
What is the cobalt to magnesium ratio today?
The cobalt to magnesium ratio is 3.331 — Cobalt at $56,290.00 per Metric Ton divided by Magnesium at $16,900.00 per Metric Ton, from live mid-market prices.
How do you calculate the cobalt to magnesium ratio?
Divide the cobalt price per Metric Ton by the magnesium price per Metric Ton. If the two units differ, the result is a rate rather than a plain count — read it as Metric Tons of magnesium per Metric Ton of cobalt.
What is the inverse of the cobalt to magnesium ratio?
The inverse, magnesium to cobalt, is 0.3002 — how many Metric Tons of cobalt one Metric Ton of magnesium buys.