刚果（金）钴出口禁令将改为出口配额制度 业内人士：供需将进入紧平衡

Core Viewpoint - The Democratic Republic of Congo (DRC) will end its cobalt export ban on October 15, transitioning to an export quota system, allowing over 18,000 tons of cobalt to be exported for the remainder of the year, with annual quotas of 96,600 tons for 2026 and 2027 [1][2] Group 1: Cobalt Export Policy Changes - The DRC's Strategic Mineral Market Regulatory Authority announced the end of the cobalt export ban, which had been in place since February [1] - The new export quota system will allocate quotas based on companies' historical export volumes, with notifications to be sent to each company [1][2] - The DRC's government is determined to maintain cobalt prices, leading downstream companies to begin large-scale inventory replenishment, which is expected to support cobalt price increases [2] Group 2: Market Impact and Demand - Following the DRC's policy change, the supply of cobalt from Indonesia is expected to become increasingly important, as Indonesia's nickel-cobalt resources can help fill the supply gap [4] - The DRC accounts for 74% of global cobalt production, and the recent export ban led to a 62% month-on-month decline in China's imports of cobalt intermediate products [2] - The demand for cobalt in the electric vehicle sector has been decreasing due to the rise of lithium iron phosphate batteries and the trend towards lower cobalt usage in nickel-cobalt-manganese (NCM) batteries [3] Group 3: Company Developments - Liqin Resources saw a stock price increase of 17% following the announcement, closing up 6.60%, as its cobalt supply is unaffected by the DRC's export quota system [1] - Huayou Cobalt is actively developing nickel-cobalt resources in Indonesia, with significant increases in production and resource reserves [5] - Greeenme's cobalt recycling business is expected to enhance profit margins during the current rising cobalt price cycle, with substantial increases in cobalt recovery output projected for 2024 and 2025 [6]