Xin Lang Cai Jing·2025-10-30 00:47Core Viewpoint - The report from CITIC Securities indicates that supply disruptions in copper mines in September have driven copper prices to historical highs, while a significant reduction in cobalt export quotas from the Democratic Republic of the Congo in October is pushing cobalt prices upward. The supply-side disruptions are expected to continue influencing commodity prices into Q4 2025, with copper and cobalt prices likely to maintain an upward trend [1] Group 1: Copper and Cobalt Market - September saw increased supply disruptions in copper mining, leading to a surge in copper prices to historical highs [1] - The reduction in cobalt export quotas from the Democratic Republic of the Congo in October is contributing to rising cobalt prices [1] - Supply-side disruptions are anticipated to remain a key factor affecting commodity prices, particularly for copper and cobalt, into Q4 2025 [1] Group 2: Lithium and Silicon Products - The demand for lithium is expected to rise due to a significant increase in energy storage battery shipments, transitioning the industry from oversupply to a phase of temporary shortage [1] - Lithium prices are projected to continue increasing in Q4 2025 as a result of this heightened demand [1] - Silicon products, which experienced substantial price increases in Q3 due to expectations surrounding anti-competitive policies, are also expected to see slight price increases in Q4 [1]