Glencore shares rose to 527.3p in London after reports it tapped cobalt stocks from China’s Wuxi exchange to meet supply commitments amid Congo export curbs. Cobalt prices have surged 160% since February 2025. Glencore plans to export 22,800 tons of cobalt from Congo this year, down from 33,500 tons in 2025. Talks with Rio Tinto remain on hold for six months under UK takeover rules.