Expected Cobalt Deficit Threatens Supply Outlook in 2026
In early 2025, the Democratic Republic of Congo suspended cobalt exports in an effort to influence global prices and shift to a quota system. The country is the biggest producer of the metal, supplying over 70% of the world. Between 2026-2027, the country expects to export a total of 96,600 tons of the metal annually. While this shift toward a resource-nationalist strategy is a positive for the country, it does also impose significant new structural limits on the global cobalt supply chain. By capping annual exports at 87,000 tons through 2027 and diverting 9,600 tons per year into a strategic stockpile, the government is moving beyond routine regulatory intervention. These actions signal a broader transition away from…