On September 17, the price of cobalt powder (-200 mesh,-300 mesh) rose in the Shanghai spot market, with a quotation of 300-313 yuan/kg, and an average price of 306.5 yuan/kg, an increase of 0.5 yuan/kg from the previous trading day.

The United States is negotiating to establish a key mineral investment fund with a total size of US$5 billion to promote supply guarantees of strategic metals such as copper, cobalt, and rare earths. The fund is planned to be established by the U.S. International Development Finance Corporation and New York investment firm Orion Resource Partners. It is the U.S. government's largest mining direct investment attempt to date. Although the two sides are still negotiating the specific structure and capital allocation, and it is uncertain whether the transaction will be finally concluded, its strategic significance has attracted great attention from the market.