Commodity Market Report
Global cobalt short-term outlook October 2024
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Report summary
Cobalt prices are approaching the bottom; however, the oversupply of feedstock and weak EV precursor demand will suppress prices for future years. Our view on an oversupplied cobalt market remains unchanged in September. The global surplus will prevail for the next five years, driven primarily by significant Chinese investments in the DRC and Indonesia's rapid commissioning of facilities.
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