Congo weighs cobalt export quotas to revive prices amid supply glut
The Democratic Republic of Congo is considering introducing cobalt export quotas as the world's biggest supplier of the battery metal seeks to curb oversupply and boost prices, three sources familiar with the details told Reuters. Cobalt prices are languishing at historically low levels amid slackening demand from automakers and as mines ramp up production of copper, from which cobalt is extracted as a by-product, to capitalize on high prices.
The Democratic Republic of Congo is considering introducing cobalt export quotas as the world's biggest supplier of the battery metal seeks to curb oversupply and boost prices, three sources familiar with the details told Reuters. Cobalt prices are languishing at historically low levels amid slackening demand from automakers and as mines ramp up production of copper, from which cobalt is extracted as a by-product, to capitalize on high prices.
