The supply and demand situation is expected to be reversed, and the central cobalt price may continue to rise.

A significant change in the cobalt market is quietly brewing. The government of the Congo announced on February 24 that the country will temporarily suspend cobalt exports for 4 months due to concerns about global market oversupply, in order to regulate supply. On June 21, the country announced that the ban on cobalt exports will be extended for another 3 months. As a result, several interviewees have stated that the global cobalt supply and demand situation is expected to reverse by 2025, and the central price of cobalt may continue to rise.