Zhi Tong Cai Jing·2025-09-22 00:18Group 1 - The Democratic Republic of Congo (DRC) will lift its cobalt export ban on October 16, implementing annual export quotas [1][3] - Cobalt is a critical raw material for batteries and essential for the electric vehicle industry [1] - DRC accounted for approximately 70% of global cobalt production last year, with the export ban initially imposed due to a significant drop in cobalt prices [2][3] Group 2 - The DRC government has stated that illegal mining is fueling violence from the M23 rebel group, and 10% of the export volume will be reserved for national strategic projects [3] - Major cobalt intermediate producers have suspended pricing, and some manufacturers have halted production due to raw material shortages [3] - The demand for cobalt is expected to increase as domestic consumption rises, particularly with the release of new consumer electronics and the end of the overseas summer break [3] Group 3 - Under the quota system, the cobalt industry may face tight balance or even shortages, with expectations of a long-term increase in cobalt prices [3] - Luoyang Molybdenum (603993) plans to optimize resource release in line with local policies to maximize cobalt value, while Hanrui Cobalt (300618) is controlling order intake to manage sales rhythm [3] - Domestic cobalt raw material inventories are expected to last until the end of the year [3] Group 4 - Luoyang Molybdenum is a leading "mining + trading" company with significant production in tungsten, cobalt, niobium, and molybdenum, and is also a major producer of copper and phosphate fertilizers [4] - The company holds an 80% stake in TFM, one of the largest and highest-grade copper-cobalt mines globally, and a 71.25% stake in KFM, a world-class greenfield copper-cobalt mine [4]