This report is one of a series of reports on metals recycling. It defines and quantifies the 1998 flow of cobalt-bearing materials in the United States, from imports and stock releases through consumption and disposition, with particular emphasis on the recycling of industrial scrap (new scrap) and used products (old scrap). Because of cobalt?s many and diverse uses, numerous types of scrap were available for recycling by a wide variety of processes. In 1998, an estimated 32 percent of U.S. cobalt supply was derived from scrap. The ratio of cobalt consumed from new scrap to that from old scrap was estimated to be 50:50. Of all the cobalt in old scrap available for recycling, an estimated 68 percent was either consumed in the United States or exported to be recycled.