> Rather, cobalt has basically no industrial applications outside of battery production.

Cobalt is a part of high speed steel and all kinds of metal alloys that have specialized applications, almost 40% of cobalt is used for metallurgical purposes.

https://en.wikipedia.org/wiki/Cobalt#Applications

Also in high performance magnetic steel, as well as SmCo magnets.

I missed this the last time I looked. I'm guessing it doesn't get pulled as much for steel because of recycling?