13.10.2026, 14:07
One metal collapsed because of China
Source: OREANDA-NEWS
OREANDA-NEWS In September 2026, global cobalt prices fell by 24 percent due to lower demand in China. This is reported by RIA Novosti with reference to data from the consulting company Kept.
According to analysts, the price of the metal has fallen by 24 percent, to 42.3 thousand dollars per ton. As a result, cobalt showed the strongest decline among industry commodities.
The reason for this price drop was falling demand from Chinese battery manufacturers. Local manufacturers are increasingly replacing cobalt batteries with lithium-iron-phosphate batteries.
Another reason for the price reduction was the development of processing and substitution of cobalt with alternative materials. At the same time, DR Congo's export quotas have not yet been fully selected, and an increase in supplies may further increase supply on the global market.
In the first half of July, it was reported that the European Union and the United States would have to spend $23.6 trillion over a quarter century to stop depending on Chinese rare earths. The International Energy Agency estimates that by 2035, China will supply more than 60 percent of the world's refined lithium and cobalt, and approximately 80 percent of graphite and rare earths.
According to analysts, the price of the metal has fallen by 24 percent, to 42.3 thousand dollars per ton. As a result, cobalt showed the strongest decline among industry commodities.
The reason for this price drop was falling demand from Chinese battery manufacturers. Local manufacturers are increasingly replacing cobalt batteries with lithium-iron-phosphate batteries.
Another reason for the price reduction was the development of processing and substitution of cobalt with alternative materials. At the same time, DR Congo's export quotas have not yet been fully selected, and an increase in supplies may further increase supply on the global market.
In the first half of July, it was reported that the European Union and the United States would have to spend $23.6 trillion over a quarter century to stop depending on Chinese rare earths. The International Energy Agency estimates that by 2035, China will supply more than 60 percent of the world's refined lithium and cobalt, and approximately 80 percent of graphite and rare earths.
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