1 of 1
Story summary
- Glencore is sourcing cobalt from Chinese exchanges to meet EV battery commitments as supply tightens.
- It has pulled cobalt stocks from the Wuxi exchange, whose inventories have halved since January due to limited supply from the Democratic Republic of the Congo, which provides 72% of cobalt.
- Cobalt prices rose 160% since February 2025, to about $26 per pound.
- The episode highlights risks from supplier concentration and Glencore's shift to stockpiles.
