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Commodity Market Report 04 October 2024

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

In 2024, the cobalt industry implemented new capacity on a large scale, leading to an expected surplus in the coming years. Despite this, driven by the supply of copper and nickel, we anticipate the addition of further capacity in the DRC and Indonesia. Moreover, the West will continue to invest in new mines to secure its supply chains. In addition, there is still room for growth in battery recycling projects in critical electric vehicle markets; we expect global recycling capacity to increase by 60% before 2030.