Cobalt prices have seen consecutive increases this week
According to the Commodity Cobalt Market Analysis System of Shengyi Society, the cobalt price on September 22 was 278100 yuan/ton, a fluctuating increase of 2.13% compared to the cobalt price of 272300 yuan/ton on September 17. The introduction of quota system in the Democratic Republic of Congo has led to a decrease in the expected supply of cobalt in the international market, resulting in a fluctuating rise in cobalt prices.
Congo introduces quota system
The Strategic Mineral Market Supervision and Control Authority of the Democratic Republic of Congo announced on the 21st that the country will end the cobalt export ban implemented since February this year from October 15th and implement an export quota system on October 16th until further notice. The agency stated in a statement that mining companies in the Democratic Republic of Congo will be allowed to export over 18000 tons of cobalt for the remainder of this year, with a maximum annual export volume of 96600 tons in 2026 and 2027. Quotas will be allocated based on the proportion of the company’s historical export volume and will be notified to all companies. The implementation of a cobalt export quota system has led to a significant decrease from the nearly 250000 tons of cobalt exports in 2024, and the shortage of supply in the cobalt market will be the main trend in the coming years.
Overview and Prospect
According to data analysts from Shengyi Society, the introduction of an export quota system in the Democratic Republic of Congo is expected to lead to a shortage of supply in the cobalt market over the next three years, increasing the driving force for cobalt price increases. Supply shortage and stable demand are expected, and cobalt prices are expected to maintain an upward trend for a long time in the future. However, the increase in cobalt prices is not optimistic. The rise in cobalt prices will stimulate the market to find alternatives. The production of Indonesian cobalt wet process projects continues to increase, making up for the supply shortage in the cobalt market. New batteries will be launched in the market, and in the future, they will seize the demand in the cobalt market. Overall, the upward momentum of cobalt prices is strong, and it is expected that cobalt prices will fluctuate and rise in the future. However, there is significant resistance for cobalt prices to break through the 300000 yuan mark.
| http://www.thiourea.net |