According to the Cobalt Institute, cited by Radio France internationale (RFI), between July and mid-October 2026, the price of cobalt hydroxide, the main form exported by the DRC, fell by nearly 43%. Sulphate lost more than 35%, while metallic cobalt declined by 16%.
This correction comes after the restrictions decided by Kinshasa in 2025, which were then replaced by a quota system. By limiting available supply, these measures had helped support prices. The market is now undergoing a rebalancing.
Congolese shipments arrive in China
Some of the volumes exported by the DRC during the first nine months of 2026 suffered logistical delays. These shipments are gradually reaching Chinese ports. Their arrival reassures refiners about the availability of raw material and reduces pressure on prices. China, the main cobalt refining centre, is thus seeing more regular supplies again.
Recycling and demand weigh
China could produce between 20,000 and 25,000 tonnes of recycled cobalt each year, according to information reported by RFI. This resource reduces the need for newly extracted raw materials. At the same time, demand remains weak, according to the Cobalt Institute. Buyers remain cautious, while some stocks still need to be cleared.
A challenge for Kinshasa
ARECOMS, the authority responsible for regulating strategic mineral substances, does not rule out adjusting quotas if the imbalance between supply and demand worsens.
Kinshasa must therefore preserve export revenues without fueling an oversupply likely to prolong the fall in prices. Beyond quotas, the sustainable valorisation of Congolese cobalt will also depend on local processing, the predictability of regulation and the capacity of the global market to absorb available volumes.
The pace of shipments will remain decisive in the coming months.
HERITIER MAILA / RFI
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