From Yahoo Finance: 2025-05-21 07:10:00

China’s CMOC Group urges the DRC to lift cobalt export ban set to expire next month. The ban was imposed to manage surpluses as prices dropped. CMOC VP Ives emphasized the need for free cobalt exports to prevent a shift to LFP batteries. Some fear China aims to suppress cobalt prices.

CMOC projects cobalt production of 100,000-120,000t this year, aligning with last year’s levels. Glencore supports export curbs for market stability. Chinese smelters have stockpiles lasting up to six months. DRC weighs impact of ban and potential stricter export curbs post-ban.

CMOC’s request comes amidst uncertainty in the DRC over the future of cobalt exports. The country is considering industry proposals and balancing tax revenue loss with market stability. China’s push for lifting the ban raises concerns about cobalt price suppression for strategic reserves.

Read more: China’s CMOC Group calls on DRC to end cobalt export ban