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Cobalt Prices in China Surge Due to Supply Chain Problems in the DRC and South Africa

Cobalt prices jumped to a three-year high in Chinse trading this month due to mounting concerns over shipment delays in the DR Congo-to-South Africa supply chain.

Shipments from the DR Congo account for 90% of China’s sourcing for the metal that’s a critical ingredient in electric vehicle batteries. Under normal circumstances, it takes less than 20 days for trucks to deliver shipments to the Port of Durban in South Africa. Now, though, that journey’s taking more than a month to complete.

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