Brazil’s electric vehicle (EV) landscape is entering a new era of maturity thanks to growth in its charging network. What started as a handful of pilot projects has turned into a fast-growing, mature network built to meet the rapid growth in Brazil's EV demand. Recent data from Benchmark's EV Charging Service highlights a fundamental shift toward high-power, rapid-charging infrastructure capable of supporting both surging consumer adoption and heavy commercial logistics.

Dr Beatrice Browning, Frederick Bloomfield - Benchmark

Increased DRC exports led to cobalt hydroxide prices (CIF Asia) falling 31% to across Q3 to $17.25/lb ($38,030/tonne), while cobalt sulphate prices (EXW China) dropped nearly 30% to RMB 58,000/tonne ($8,642), according to Benchmark’s Cobalt Price Assessment. EXW Europe cobalt metal prices eased about 11%, while CIF Asia MHP cobalt payables sank from 91.5% to 65.8% by mid September as a result of cheaper hydroxide offering an alternative. “Q3 2026 has seen a broad decline in prices across the cobalt supply chain as rising DRC-origin supply succeeded the weak downstream buying that defined Q2,” said George Ingall, a senior cobalt price analyst at Benchmark.

The strength of nickel prices seen in Q2 reversed this quarter amidst softening demand and the resumption of nickel exports from the DRC. Benchmark's data shows that nickel sulphate prices (EXW China) fell 13% since the end of Q2 to RMB 28,500/tonne ($4,247) as of 23 September. During the same period, aggregate CIF Asia MHP prices declined 17.3% whilst metal prices (INCO) fell 9.5%. “Easing cost pressures at Indonesian refiners and smelters, alongside fresh production quotas and weakening nickel-based cathode demand, have offered little support to nickel prices during Q3,” said Frederick Bloomfield, senior analyst at Benchmark.