A Delegation From The Democratic Republic Of The Congo's National Committee Visited SMM To Jointly Discuss Cobalt Product Pricing, Aiming To Boost Sustainable Growth In The New Energy Sector

Published: Sep 26, 2023 17:06

Source: SMM

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SHANGHAI, Sep 26 (SMM) – On September 26, following a visit by Meidy Katrin, Secretary-General of the Indonesia Nickel Miners Association (APNI), SMM welcomed a delegation from the Democratic Republic of the Congo, the world's largest cobalt mining country. The delegation included Minister Lomata Jose and Secretary Bussa Nyabokala Esther from the National Commission of Mercuriales, and Ulungu Ongala Paul, the head of the Metallurgical Research and Industrial Integration Department of the Coordination and CTCPM.

SMM CEO Fan Xin, Senior VP Lu Jialong, New Energy Division GM Wang Cong and Wang Tian, Senior Consulting Director Bai Fan, and Nickel Research Director Zhang Lingying, among others, warmly welcomed the guests.

During the meeting, SMM CEO Fan Xin presented various aspects of SMM's business like pricing, data, reports, consulting, and exhibitions. He also provided a live demonstration for a better understanding of SMM's products.

China, as the world's largest cobalt consumer, plays a key role in the cobalt supply chain and is critical for resource-rich countries like the Democratic Republic of the Congo (DRC). With the global rise of the electric vehicle industry, cobalt demand in the new energy sector is growing rapidly, influencing cobalt product pricing methods. The DRC asserts that sustainable growth of cobalt companies relies on a fair pricing mechanism, emphasizing the need for mutually beneficial cooperation between the top resource and consumer countries.

SMM, a third-party metal quotation platform in China, has gained industry recognition through its 24 years of experience and fair pricing principles, with its pricing serving as a settlement reference. The widespread use of SMM's cobalt product prices by domestic and international companies is a major reason for the visit by the DRC industry delegates.

Both parties plan to exchange information, share experiences, support pricing, and connect the Chinese and Congolese cobalt industries to aid the stable growth of the new energy supply chain. As the global new energy sector enters a new, promising yet challenging phase, SMM and industry peers are set to explore and establish new international pathways.

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