Glencore has declared force majeure on select cobalt shipments from the Democratic Republic of Congo (DRC), days after the government imposed a four-month export ban on the battery metal.
The DRC, which supplies 78% of global cobalt output, halted exports in February to address a supply glut that had crashed prices to nine-year lows and eroded tax revenues.
The move has since spurred a 35% price rebound, with cobalt hydroxide trading at $34,832 per tonne this week.
Reuters reports that Glencore, one of DRC's top cobalt producers, invoked the contractual clause - reserved for unforeseeable disruptions - affecting some customer agreements.
While many clients continue receiving shipments, the extent of operational impacts remains unclear.
Most Congolese cobalt - a copper by-product - is processed into hydroxide for EV batteries.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
