Core Viewpoint - The recent announcement from the Democratic Republic of Congo (DRC) regarding cobalt export quotas is expected to positively impact cobalt prices and benefit companies like Liqin Resources, which has significant operations in Indonesia [1] Group 1: Cobalt Export Quota Policy - The DRC will implement a cobalt export quota system starting from October 16, 2025, with a remaining export limit of 18,100 tons for the rest of 2025 [1] - The annual quota for 2026-2027 is set at 96,600 tons, allocated based on companies' historical export volumes, with unused quotas transferable to strategic quotas [1] - The government retains the right to make dynamic adjustments to the quotas [1] Group 2: Market Implications - Tianfeng Securities suggests that the new quota policy indicates a long-term balance or even a shortage in supply and demand, leading to an expected increase in cobalt prices [1] - CICC notes that the total cobalt export quota for 2026/2027 will only account for 44% of the DRC's cobalt production in 2024, indicating a tightening supply [1] - The tightening of export quotas is anticipated to drive cobalt prices higher, benefiting Liqin Resources' wet processing capacity in Indonesia and potentially leading to an expansion in the nickel industry chain [1]