What is driving the recent surge in cobaltous chloride prices?

What is driving the recent surge in cobaltous chloride prices?
Cobaltous chloride prices have rallied sharply, up about 208% year-to-date, with a weekly gain of 21.82% as of mid-October. The core driver is supply disruption from the DRC, the dominant global cobalt source. The government introduced an export quota system in October, tightening feedstock availability. Refiners are facing raw material shortages, forcing production cuts. Domestic cobalt salt output (including cobaltous chloride and cobalt sulfate) fell 31.9% year-on-year in July, with month-on-month declines accelerating. Meanwhile, downstream demand from batteries, electroplating, and catalysts remains steady. With the DRC controlling supply and Chinese recyclers only partially offsetting the gap, the market faces a structural tightness that keeps upward pressure on prices. Buyers should expect continued volatility and plan procurement carefully.