Last week, the spot price of cobalt intermediates remained stable with a slight upward trend. Currently, the approval process for cobalt export permits in the Democratic Republic of Congo (DRC) still remains sluggish, and the industry anticipates that the corresponding export quotas will gradually arrive in China around March next year. Furthermore, considering that the rainy season in the DRC lasts from November 2025 to May 2026, persistent heavy rainfall is prone to cause floods and mudslides, necess vigilance against potential disruptions to subsequent land transportation. The current market primarily focused on digesting existing inventory. Major mines and traders were generally optimistic about the future market, with a strengthening tendency to hold onto stocks and reluctance to sell. Mainstream offers generally rose above $23.5 per pound, with some higher quotes approaching around $25/lb.