Cobalt hydroxide prices fell about 31% in the third quarter despite the export quotas the Democratic Republic of Congo (DR Congo) uses to restrict supply. Benchmark Mineral Intelligence data, published on 1 October, show the spot price dropped from about $56,300 a tonne in early July to $39,140 on 29 September, while DR Congo’s exports rose from 17,053 tonnes in the first quarter to 24,086 tonnes in the second. Kinshasa banned cobalt exports in February 2025 and then replaced the ban with quotas, which allow 96,600 tonnes this year. Lower prices cut the export earnings and royalties DR Congo hoped to raise, and suggest that the quotas now exceed demand from battery makers.
Sources
- Agence Ecofin: https://www.agenceecofin.com/actualites-industries/0110-142041-prix-du-cobalt-recap-d-un-troisieme-trimestre-baissier-malgre-les-quotas-en-rdc
- Bankable: https://bankable.africa/fr/mines/0110-3716-cobalt-les-prix-l-hydroxyde-chute-de-31-au-3e-trimestre-2026-malgre-les-quotas-en-rdc
- The Rio Times (background on quotas): https://www.riotimesonline.com/dr-congo-cobalt-export-quotas-2026/