Last week, the price of cobalt intermediates continued its upward trend, with the average market price rising by 0.3% compared to the previous week. Meanwhile, there has been no new progress in the approval of cobalt export permits from the Democratic Republic of Congo (DRC). The industry currently expects cobalt intermediates to arrive at ports around March 2026. In the meantime, the market was primarily digesting existing inventories, while suppliers were holding back stocks to support prices, resulting in relatively subdued trading activity. In addition, recent conflicts in the DRC have led to a severe situation in its eastern regions, primarily affecting South Kivu, North Kivu, and Ituri provinces. However, these areas are far from the mining-rich Lualaba Province, and the current transportation routes don't pass through the conflict-affected eastern regions. Therefore, the regional conflicts have had little impact on mining operations and the transportation of cobalt intermediates