Democratic Republic of Congo extended ban on cobalt exports by three months – prices jump

The Democratic Republic of Congo—currently the world’s largest cobalt producer—has extended its temporary ban on cobalt exports by three months, now effective through September 2025

• This follows the initial four-month suspension initiated in February, after cobalt prices plunged to a nine-year low of around $10 per pound.

Even before the ban’s extension, it significantly boosted cobalt prices — up 35%, following forced shipment halts by Glencore

• Other regions, such as Indonesia, are positioning themselves to respond to any ongoing restrictions, which could shift market shares and supply chains

This article was written by Eamonn Sheridan at www.forexlive.com.