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Cobalt Market Shaken as DRC and Indonesia Set Quotas

3/21/2025

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Summary

Story summary

The Democratic Republic of the Congo and Indonesia, the leading cobalt suppliers, are joining forces on export quotas, shaking up the global battery market. Following the DRC's export suspension, cobalt prices skyrocketed by 84%. While Indonesia seeks to ramp up production, capacity challenges may hinder swift results, leaving future policies to shape the market landscape.

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Story summary

The Democratic Republic of the Congo and Indonesia, the leading cobalt suppliers, are joining forces on export quotas, shaking up the global battery market. Following the DRC's export suspension, cobalt prices skyrocketed by 84%. While Indonesia seeks to ramp up production, capacity challenges may hinder swift results, leaving future policies to shape the market landscape.