Africa – Government efforts to prop up the price of cobalt

Reuters (gated) with the info, this in brief:

• The Democratic Republic of Congo is considering introducing cobalt export quotas as the world’s biggest supplier of the battery metal seeks to curb oversupply and boost prices.
• Cobalt prices are languishing at historically low levels amid slackening demand from automakers and as mines ramp up production of copper, from which cobalt is extracted as a by-product, to capitalize on high prices.
• The plan to introduce limits has been discussed within the Congolese government but no final decision has been taken yet

Reuters cite “three sources familiar with the details, who declined to be named discussing sensitive matters”.

This article was written by Eamonn Sheridan at www.forexlive.com.