Supply continues to tighten, cobalt prices rise to drive sector performance
Recently, the Democratic Republic of the Congo extended its cobalt export ban until October 15 and will implement an export quota system. The mismatch between supply and demand has driven cobalt prices up nearly 40% this year. As of September 25, cobalt concept stocks such as CMOC, Huayou Cobalt, and GEM have continued to strengthen this week. Industry insiders believe that with supply tightening and demand continuing to grow, there is still significant room for cobalt prices to rise, and related industry chain companies are expected to continue to see upward revisions in profit expectations, with room for valuation recovery
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