【SMM Analysis：China's Imports of Cobalt Hydrometallurgy Intermediate Products in November Rose Sharply MoM, with Relatively Small Fluctuations in Average Import Price】

According to customs data, in November 2024, China's imports of cobalt hydrometallurgy intermediate products were approximately 22,500 mt (metal content, calculated at 35% grade), up 40% MoM and up 43% YoY. Regarding the average import price, in November 2024, the average import price of China's cobalt hydrometallurgy intermediate products was $12,559/mt (metal content). From January to November 2024, the cumulative import volume reached 201,300 mt (metal content, calculated at 35% grade), up 74% YoY.

By country, in November, the DRC remained the main import source, with an import volume of approximately 22,000 mt (metal content, calculated at 35% grade), an average import price of $12,619/mt (metal content), and accounting for about 98% of total imports.

By region, in November, the top three provinces for China's imports of cobalt hydrometallurgy intermediate products were Zhejiang, Hubei, and Hunan, accounting for 29%, 20%, and 11%, respectively.