https://newsletter.mw.creamermedia.com
Export|Stainless Steel|Steel
Export|Stainless Steel|Steel
export|stainless-steel|steel

Chinese cobalt prices and stocks spike after Congo extends ban

Tenke Fungurume in the DRC

Tenke Fungurume in the DRC

23rd June 2025

By: Bloomberg

  

Font size: - +

Cobalt prices and stocks surged in China after the Democratic Republic of Congo extended its export ban to September, constricting supplies of the raw material used in alloys and batteries.

The country, which supplies about three-quarters of the world’s cobalt, said over the weekend that the suspension would continue “due to the continued high level of stock on the market.” It follows an initial four-month halt that began on February 22.

Prices for cobalt jumped about 10% on the Wuxi Stainless Steel Exchange. In Shenzhen, Chinese producer Nanjing Hanrui Cobalt rose as much as 14%, while Ganzhou Teng Yuan Cobalt New Material added 20%. Zhejiang Huayou Cobalt climbed 7.6% in Shanghai.

“We are likely to see an initial price spike, but real pressure will be later in the year as intermediate stocks begin to dry up,” said Thomas Matthews, battery materials analyst at CRU Group. “In short, strap yourselves in.”

Edited by Bloomberg

Comments

Showroom

Amsted Reelin image
Amsted Reelin

REELIN is Currently the largest supplier of Bearings to Transnet. We have contracts to supply bearings, draft gears slackadjusters and other...

VISIT SHOWROOM 
AQS Liquid Transfer
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (25/07/2025)
25th July 2025 By: Martin Creamer
Magazine round up | 25 July 2025
Magazine round up | 25 July 2025
25th July 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.153 0.228s - 126pq - 2rq
Subscribe Now