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Cobalt costs jumped to a three-year excessive in Chinse buying and selling this month because of mounting considerations over cargo delays within the DR Congo-to-South Africa provide chain.
Shipments from the DR Congo account for 90% of China’s sourcing for the steel that’s a essential ingredient in electrical car batteries. Below regular circumstances, it takes lower than 20 days for vehicles to ship shipments to the Port of Durban in South Africa. Now, although, that journey’s taking greater than a month to finish.
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