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Beyond the headline surge, note the widening spread between cobaltous chloride and cobalt metal prices. Refiners are holding firm on quotes despite high finished-goods inventories, suggesting they expect further feedstock cost increases. For buyers, locking in term contracts with domestic producers may be wiser than chasing spot lots, as import arrivals from the DRC could take 3-4 months to normalize even if quotas ease.
The reversible hydration also creates handling challenges. Anhydrous cobaltous chloride must be stored in airtight containers, and moisture uptake during transport can alter product quality and weight, affecting contract settlements. Suppliers shipping to humid regions should consider moisture-barrier packaging and clearly state anhydrous versus hexahydrate grades in documentation to avoid disputes over specification compliance.
Buyers should watch the DRC's quota enforcement timeline closely. The confiscation of unused 2026 H1 quotas and customs system delays suggest shipments will remain slow into Q4. Diversifying suppliers toward Indonesian MHP-based refiners or domestic recyclers could mitigate risk, though quality consistency remains a concern. Building safety stock of 4-6 weeks is prudent given the 3-4 month shipping lead time from Africa.