The cobalt market is currently bracing for another potential near-term supply shock, as CMOC works to resolve a dispute with its Congolese state-owned partner, which would allow it to export a huge stockpile of semi-refined cobalt hydroxide from its Tenke Fungurume mine. While its exports were blocked in mid-July, CMOC has kept the mine running at close to full capacity, simply stockpiling the extra metal until it can resume shipments, Bloomberg reported last month.“While the broader cobalt complex endured a massive correction during 2022 against a backdrop of sharp supply increases and numerous demand setbacks, green shoots are starting to show,” Darton Commodities said. “However, the standoff between CMOC and Gecamines in the dispute over royalty payments remains a wild-card, and has the potential to drastically shift the cobalt hydroxide market in one direction or the other.” QUOTE COB is in a strong position with the real demand to jump around 2025 these supply issues will play out but the really important points are that the cobalt will be sought out from secure jurisdictions with proven ESG credentials to process the resources. This means offtake agreements must be entered into soon to provide stable supply for OEMs to be able produce into the future against their opponents in the industry IMO
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