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Core Viewpoint - The Democratic Republic of the Congo (DRC) has lifted its cobalt export ban effective October 15, 2023, transitioning to an export quota system to regulate cobalt exports until further notice [1][4]. Group 1: Export Quota System - The DRC will allow mining companies to export over 18,000 tons of cobalt for the remainder of the year, with maximum annual export volumes set at 96,600 tons for 2026 and 2027 [3][4]. - Export quotas will be allocated based on the historical export volumes of companies, and the DRC's regulatory authority will notify companies accordingly [3][4]. - 10% of the authorized export volume for 2026 and 2027 will be allocated for national strategic projects [4]. Group 2: Market Impact and Price Trends - The cobalt market has seen significant improvements in supply-demand dynamics due to the DRC's export ban, leading to a rebound in cobalt prices, which increased nearly 60% after the ban was announced [4][6]. - Cobalt prices have risen from 169,000 CNY/ton at the beginning of 2025 to over 275,000 CNY/ton by September 18, 2025, marking a 62.7% increase [6]. - The DRC's export restrictions have tightened global cobalt supply, while demand from sectors like electric vehicles and consumer electronics continues to rise, further driving up prices [6]. Group 3: Future Outlook - Analysts are optimistic about cobalt prices in the long term, with expectations that the DRC's export quota system will enhance its pricing power, potentially raising the price center [7]. - Forecasts suggest that cobalt prices could enter an upward cycle from 2025 to 2027, with price centers expected to exceed 350,000 CNY/ton during 2026-2027 [7].