Zheng Quan Shi Bao Wang·2025-09-25 02:25Group 1 - The non-ferrous sector experienced a strong rally on the 25th, with significant gains in copper and cobalt stocks, including a limit-up for Jingyi Co., Northern Copper, and over 7% increase for Luoyang Molybdenum [1] - Freeport McMoRan's Grasberg mine in Indonesia faced a fatal landslide, leading to a substantial rise in global copper prices and supply chain concerns, with production expected to be halted until at least 2027 [1] - The Grasberg mine accounts for 50% of Freeport's proven reserves and approximately 70% of its expected production before 2029, indicating a long-term impact on global copper supply [1] Group 2 - The cobalt export quota system implemented by the Democratic Republic of Congo (DRC) reflects the government's commitment to controlling global cobalt prices, with expected supply shortages from 2025 to 2027 [2] - The DRC's export quota policy is projected to result in a significant reduction in global cobalt supply, with shortages of 122,000 tons, 88,000 tons, and 97,000 tons respectively for those years, likely leading to a strong increase in cobalt prices [2] - Companies involved in cobalt smelting in Indonesia and those with mines in the DRC are expected to benefit significantly from the anticipated rise in cobalt prices [2]