Cobalt prices surge after China’s Golden Week, as DRC export quotas create fresh supply concerns

Cobalt prices jumped 10%–20% on the first trading day after China’s Golden Week holiday last week, amid deepening concerns over stock availability following the implementation of the Democratic Republic of the Congo’s (DRC) new export quotas. Market participants reported to Benchmark last week that cobalt sulphate was trading at RMB 65,000–75,000/t ($9,170–10,580/t), up from RMB 60,000–62,000/t before the break. […]