Battery raw material prices are being distorted by policy. The DRC's cobalt export ban has pushed prices to multi-year highs and another extension to 15 October has been announced, with quotas expected to follow. In China, supply reforms have closed two lithium operations, with another 7 at risk of closure, causing prices to spike. The impacted mines must resubmit reserve and resource assessments by 30 September. While these markets remain in surplus, higher prices are being driven by non-market fundamental forces.
On the Agenda:
Discussion on the DRC export ban extension and what we expect from the quota system. Discussion on the closure of Jianxiawo, when it will come back and the risk to other mines in China. We will talk about what will happen next and the impact on our forecast.
