🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
After Congo extended the ban, cobalt prices and inventories in China skyrocketed.
Gate News bot news, according to Bloomberg, the Democratic Republic of the Congo has extended its export ban until September, restricting the supply of raw materials used for alloys and batteries, leading to a surge in cobalt prices and inventories in China.
China supplies about 3/4 of the world's cobalt. The country stated last weekend that the measures to suspend cobalt exports will continue "due to persistently high market inventories." Previously, China had begun suspending cobalt exports on February 22 for a period of four months.
The price of cobalt at the Wuxi Stainless Steel Exchange has increased by approximately 10%. In Shenzhen, the stock price of Nanjing Hanrui Cobalt Industry Co., Ltd. rose by 14%, while the stock price of Ganzhou Tengyuan Cobalt Industry New Materials Co., Ltd. increased by 20%. Zhejiang Huayou Cobalt Co., Ltd. rose by 7.6% in Shanghai.
Thomas Matthews, a battery materials analyst at CRU Group, stated: "We may see a surge in prices initially, but the real pressure will emerge later this year as intermediate inventories begin to deplete. In short, everyone should fasten their seatbelts."