Cobalt Prices Surge in 2025 as DRC Export Suspension and Quotas Tighten Global Supply
Cobalt, a strategic mineral for which the Democratic Republic of Congo (DRC) remains the world’s leading producer, has recorded a strong price recovery on international markets since November 2025.
Widely used in electronics, electric vehicles, and energy transition technologies, the metal is benefiting from policy measures introduced by the Congolese government, particularly the suspension of exports after prices fell to nearly USD 21,000 per metric ton earlier in the year.
Market data compiled by Deskeco shows that cobalt prices stood at USD 43,819 per ton at the end of October. Within a week, prices climbed to USD 47,908 per ton and remained relatively stable at that level through early December.
From mid-December, prices resumed their upward trajectory, reaching USD 48,472 per ton on December 13—an increase of more than USD 1,000.
The rally accelerated in the second half of December. On December 20, cobalt prices rose to USD 50,958 per ton and surpassed USD 52,000 per ton by December 22, marking an increase of nearly USD 4,000 in less than ten days.
Based on performance over the past two months, the trend points to continued price strength through the end of 2025.
In February 2025, the Congolese regulatory authority suspended cobalt exports for four months to stabilise prices and manage global supply.
The suspension was extended in June for a further three months before being lifted in October. At that point, the government introduced a new export quota system aimed at maintaining tighter control over cobalt shipments.
Despite the formal announcement of quotas, industry analysts note that full implementation remains uneven. Some observers say that exports under the quota framework have yet to be consistently executed, raising questions about enforcement and operational clarity.
Market analysts widely regard cobalt as one of the strongest-performing commodities in 2025. This performance is largely attributed to export controls imposed by the DRC, which effectively removed an estimated 160,000 to 170,000 metric tons from global supply during the year, creating tight market conditions.
Mining experts have also raised concerns over compliance, warning that some operators may not be fully adhering to the quota limits.
They argue that the Congolese authorities will need to strengthen monitoring and enforcement mechanisms to ensure strict application of the new rules and impose deterrent sanctions where violations occur.
Meanwhile, international financial institutions note that despite the prolonged suspension of cobalt exports in 2025, the DRC’s external position has improved.
This has been supported by resilient export volumes overall and strong copper prices, underscoring the country’s continued importance in global mineral markets.
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