智通财经网·2025-12-09 05:54Core Viewpoint - The recent cobalt export regulations from the Democratic Republic of Congo (DRC), the world's largest cobalt supplier, are causing widespread concern in the global mining and lithium battery industries, particularly affecting companies like Luoyang Molybdenum Co., Ltd. (03993) which saw its stock drop significantly [1] Group 1: Market Reaction - Luoyang Molybdenum's stock fell over 7% in the afternoon trading session, closing down 6.74% at HKD 17.86, with a trading volume of HKD 1.037 billion [1] Group 2: Regulatory Changes - The DRC has implemented a new cobalt export regulation that replaces the previous export ban with a quota system, introducing additional temporary fees and complex processes that add uncertainty to the already tight cobalt supply chain [1] - The core controversy of the new regulation revolves around the calculation details of the export permit fee, specifically the 10% prepayment requirement based on sales value, which has left the industry confused [1] Group 3: Industry Concerns - Industry executives are seeking clarity on whether the prepayment fee will be deducted from the last export transaction amount before the February export ban, as this directly impacts companies' capital costs [1] - Since the implementation of the cobalt export quota system on October 16, companies have been required to prepay 10% of the sales value as a permit fee, but the latest regulations have not clarified the calculation basis, increasing companies' cautious sentiment [1]