Cobalt Prices Slide in 2023 in DRC, Posing Climate Change Challenge

Since the start of the current year (2023), the price of cobalt, a strategic mineral for the fight against climate change, has continued to fall on international markets.

This mineral, highly coveted in particular by automobile manufacturers, should once again experience a drop in price during the period from September 25 to 30, 2023, inform experts from the National Mercurial Commission of the Ministry of Foreign Trade of the Democratic Republic of Congo ( DRC).

According to the source, a tonne of cobalt should trade at USD 32,731.00 this week against USD 32,732.00, a price drop of around 0.003%.

Such a trend is not good for the Democratic Republic of Congo, which has nearly 70% of the world’s cobalt reserves.

Cobalt is not the only mining export from the country that is expected to see falling prices this week.

The National Mercurial Commission notes that tin is also expected to fall to USD 25,540.00 per tonne this week from USD 25,781.00 a week earlier, a drop of 0.93%.

Furthermore, a tonne of copper is projected to rise and should trade at USD 8,325.45 compared to USD 8,297.70 the previous week.

To this end, copper should record a slight increase of around USD 27.75 during this period.

The good trend observed on international markets continues with gold and zinc. These two minerals should perform well during this week.

Zinc is expected to trade at USD 2,512.55 per tonne for zinc compared to USD 2,439.65 per tonne a week ago, representing a price increase of 2.99%.

In the meantime, the kilo of gold would return to 62.21 USD this week against 62.02 USD the previous week, a price increase of 0.31%.

The National Mercurial Commission reports that the prices of silver and tantalum remain stable on international markets, trading at USD 0.75 per gram and USD 300.00 per kilogram respectively.