Cobalt market in fluxThe cobalt market could be at an inflection...

Cobalt market in fluxThe cobalt market could be at an inflection point. After sharp pullbacks – prices for cobalt concentrate exported to China is down a whopping 75.4% while prices for LME metal have dropped 57% – Project Blue is finding evidence that payables are now creeping up, thanks to logistical issues in the Congo. Reuters reported in late May that the DRC government has plans to hike its stake in Sicomines joint venture with Chinese firms from 32% to 70% as part of an overhaul of the central African nation’s $6 billion infrastructure-for-minerals agreement. The Tshisekedi Government appears concerned that too much of the DRC’s copper and cobalt resources were given away during the Kabila era, with little benefit to the country, says Project Blue. The DRC also halted Eurasian Resources Group’s Boss Mining copper-cobalt project over environmental concerns but “the suspension is unlikely to impact the cobalt market much as things stand but could remove roughly 2–3 kilotoness of material from an oversupplied market in 2023.”Project Blue says current cobalt prices probably constitute a floor and the market will stabilise over the coming weeks. QUOTE
Market picking up may see some positive signs in the future IMO

https://www.mining.com/critical-material-prices-are-recovering-but-the-outlook-is-mixed/