[SMM Analysis] December Imports and Average Import Prices of Cobalt Intermediate Products Both Declined MoM

According to customs data, in December 2024, China's imports of cobalt hydrometallurgy intermediate products were approximately 18,600 mt (metal content, calculated at 35% grade), down 17% MoM and up 3% YoY. Regarding the average import price, in December 2024, the average import price of China's cobalt hydrometallurgy intermediate products was $12,888/mt (metal content).

By country, in December, the DRC remained the main import source, with an import volume of approximately 18,600 mt (metal content, calculated at 35% grade), an average import price of $12,891/mt (metal content), and accounting for about 99.6% of total imports.

By region, in December, the top three provinces for cobalt intermediate product imports were Zhejiang, Fujian, and Hubei, with import shares of 40%, 15%, and 13%, respectively.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Ye Yuan 021-51595792

Disheng Feng 021-51666714

Ying Xu 021-51666707

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Xiaodan Yu 021-20707870

Zhicheng Zhou 021-51666711