LME cobalt falls 29.58% since Aug 28 close, down $40 to $39,640

Cobalt's near-30% slide since late August stands apart from the rest of the base-metals complex, where copper, nickel, zinc, lead and tin all advanced and only aluminium joined it lower. That divergence suggests the pressure is cobalt-specific — most likely demand or supply-side rather than a broad macro repricing — which matters for battery supply chains and anyone holding cobalt exposure against a basket of industrial metals. Whether the other metals keep decoupling from cobalt, or the weakness spreads, is the open question.