Cobalt Prices Inch Up Slightly Amid Global Market Uncertainty
The price of cobalt, one of the Democratic Republic of Congo’s (DRC) most strategic export minerals, recorded a marginal increase of 0.02% on international markets this week.
According to the latest price bulletin from the Ministry of Foreign Trade, the price per ton rose to USD 32,650.00 for the week of July 21–26, up slightly from USD 32,645.00 the previous week.
Despite the uptick, experts describe the price movement as a sign of a stable yet cautious market. Industry analysts note that the cobalt sector remains under pressure from a combination of factors:
Geopolitical uncertainties, particularly in regions with major supply routes
Sluggish recovery in global demand, especially in the electric vehicle battery sector
Cautious buying behavior among large industrial consumers
“This marginal increase doesn’t signify a true rebound,” explains a Lubumbashi-based economist specializing in natural resource markets.
“It’s more of a pause — a moment of stabilization — amid tightening supply and falling stockpiles, especially in Asian markets.”
The DRC remains the world’s largest producer of cobalt, supplying over 70% of global demand. With cobalt playing a critical role in the production of lithium-ion batteries for electric vehicles and electronics, price fluctuations—even minor ones—can have wide-reaching implications across industries.
The latest price trend suggests the market is closely watching both supply-side developments and policy shifts, particularly as global powers compete for secure access to critical minerals.
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