The Democratic Republic of Congo (DRC), the largest producer of cobalt globally, has halted all exports of the key battery metal for four months in an effort to curb oversupply and stop prices from falling further.

The Democratic Republic of Congo, the world’s number one cobalt producer, has banned all exportation of the metal for a minimum of four months. According to the country’s Authority for the Regulation and Control of Strategic Mineral Substances' Markets (ARECOMS),

The Democratic Republic of the Congo (DRC) has announced a four-month suspension of cobalt exports to regulate supply amid concerns of overproduction in the global market, authorities said Monday.

The Democratic Republic of Congo says it’s suspending cobalt exports for four months to rein in oversupply of the battery metal on the international market.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC,

The Democratic Republic of Congo is considering introducing cobalt export quotas as the world's biggest supplier of the battery metal seeks to curb oversupply and boost prices, three sources familiar with the details told Reuters.

The Democratic Republic of Congo (DRC), the world's leading cobalt producer, has temporarily suspended cobalt exports for at least four months in response to an oversupply in the market, reported Bloomberg.