price of cobalt falls to 28,579 USD per tonne at the end of December 2023 in DRC

Despite its essential role in the automobile industry, particularly in the manufacture of electric batteries, the price of cobalt has continued to plummet on international markets for almost a year.
During the week from December 25 to 30, 2023, the price of cobalt is expected to fall by 8.70% or USD 28,579 per tonne this week compared to USD 31,302 per tonne a week previously.

Apart from cobalt, tantalum is also expected to see a slight drop in price this week to USD 212.40 from USD 213.00, a drop of 0.28% per kilogram.

Furthermore, other mining products exported from the DRC, including copper, should experience a price increase at the end of 2023.

According to experts in the field, a ton of copper should record a price increase of around 2.74% on international markets, going from 8,451.85 to 8,263.90 US dollars during the period. December 25 to 30, 2023.

“The ton of copper observes a price increase on international markets during the period from December 25 to 30, 2023 by trading at 8,451.85 US dollars against 8,263.90 US dollars in the week of December 25 to 30 against 8,263. 90 US dollars the week of December 16 to 23, an increase of 2.74% on the ton,” informs the note from the National Mercurial Commission.

This same document indicates that zinc, tin, gold and silver are also expected to see an increase in prices on international markets during the same period.

Zinc is expected to sell at USD 2,539.30 per tonne compared to USD 2,409.20 the previous week, an increase of 5.40%.

As for tin, it is expected to trade at USD 24,907.70 per tonne against USD 24,547.00 a week earlier, an increase of 1.47%.

Meanwhile, gold price would reach USD 65.43 per gram from USD 64.79, a slight increase of 0.99%.

Silver is expected to sell this week at $0.77 from $0.76 a few earlier, a price increase of 1.32%.

Despite fluctuations in international markets, the general trend of mining products exported from the Democratic Republic of Congo is upward during the last week of December 2023.