DRC Cobalt Export Halt Slams EV Industry ...Middle East

OILPRICE - Economy
DRC Cobalt Export Halt Slams EV Industry
source : OILPRICE ( Middle East ) () 51
  The Democratic Republic of Congo's four-month suspension of cobalt exports has driven up prices of the critical metal, which is heavily used in lithium-ion batteries—the backbone of the renewable energy industry.  New Fastmarkets data shows that a pound of cobalt hydroxide—the main product exported from the DRC, the world's top producer—has surged 84% since the DRC suspended exports last month to counter a market glut that had pressured prices to multi-year lows. Prices reached $10.50 per pound on Tuesday, the highest…

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