Zhong Guo Zheng Quan Bao·2025-09-25 22:13Group 1 - The Democratic Republic of Congo (DRC) has extended its cobalt export ban until October 15, leading to a significant increase in cobalt prices, which have risen nearly 40% this year [1][2] - Cobalt prices have increased from $14 per pound at the beginning of the year to $19.5 per pound by September 24, indicating strong demand and supply constraints [2] - The DRC accounts for 76% of global cobalt production, and the extended export ban is expected to reduce cobalt supply by approximately 141,600 tons, nearly half of the global cobalt production in 2024 [1][2] Group 2 - Companies in the cobalt supply chain, such as Luoyang Molybdenum and Huayou Cobalt, have seen significant stock price increases, with Luoyang Molybdenum up 10.87% and Huayou Cobalt up 7.85% as of September 25 [1][2] - Huayou Cobalt reported a revenue of 650 million yuan from cobalt products in the first half of 2025, benefiting from rising cobalt prices [3] - Greenme's cobalt recycling capacity exceeds China's cobalt mining output by 350%, and its nickel-cobalt production in Indonesia has increased by 125% year-on-year, mitigating the impact of the DRC's export ban [3] Group 3 - Analysts predict that the tightening supply of cobalt will lead to a global supply gap exceeding 300,000 tons over the next three years, supporting further price increases [2] - The demand for cobalt is expected to rise due to the growing electric vehicle market and technological advancements in sectors like 5G and AI, which will further support cobalt prices [3][4] - Companies with strong resource reserves and production capabilities, particularly in Indonesia, are expected to gain a competitive advantage as the DRC's export quota system is implemented [4]