符合市场预期，刚果金钴禁令再延长三个月

Core Viewpoint - The article discusses the extension of the cobalt export ban in the Democratic Republic of Congo (DRC) to alleviate market pressure due to high inventory levels and to prepare for future market regulation and policy updates [2]. Group 1: Market Dynamics - The DRC's government initially suspended cobalt exports for four months starting February 22 to curb falling cobalt prices, and the recent extension aligns with market expectations [2]. - Following the anticipation of rising cobalt prices in March, downstream companies significantly increased their inventory, particularly for lithium cobalt oxide, which saw a price rebound of nearly 75.2% from its lowest point at the end of last year [4]. - However, starting in May, market shipments returned to normal, leading to a decline in prices for lithium cobalt oxide and ternary materials due to weakened downstream demand [4]. Group 2: Stock Market Reaction - On the day of the announcement, cobalt-related stocks in the A-share market surged, with companies like Tengyuan Cobalt Industry hitting a 20% limit up, and others like Hanrui Cobalt and Huayou Cobalt rising by over 13% and 7% respectively [4]. Group 3: Futures Market - The futures market also showed significant increases, indicating a bullish sentiment among traders [5]. Group 4: Production and Pricing Outlook - Most cobalt production companies have paused their pricing, adopting a wait-and-see approach. Short-term market prices are expected to rise due to heightened sentiment, but sustainability will depend on downstream demand [7].