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China Takes Advantage of Cobalt’s Low Price to Boost Strategic Reserve

Raw cobalt like this sourced from a Chinese mining company in the DR Congo will be used to bolster China's strategic reserve of the blue metal. EMMET LIVINGSTONE / AFP

The Chinese government plans to fortify its stockpile of cobalt, a critical resource used to manufacture electric vehicle batteries.

Insiders tell Reuters that the Strategic Reserves Administration plans to purchase 3,100 metric tons of the blue metal in a move likely timed to take advantage of a prolonged market downturn for cobalt.

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