Global commodities outlook: despite falling prices critical minerals exploration spending continues to grow

Critical mineral prices tumbled in 2024Q3 and continued to decline in October. Cobalt and lithium prices plunged by 18 and 25 percent (q/q), respectively, while rare earth metals increased by 5 percent. Price declines for cobalt and lithium reflected continued growth in supplies from key producers, which have recently more than met demand arising from the energy transition. By contrast, […]