SMM Analysis: China Cobalt Raw Material Imports Decreased in May While Import Prices Rose

SHANGHAI, Jun 21 (SMM) -  According to customs data, China imported 7,100 mt of cobalt raw material in metal content in May, a month-on-month decrease of 4% and year-on-year drop of 1%. Imports totalled 38,800 mt in metal content from January to May. 
Imports of cobalt ore were 75 mt in metal content in May (calculated at 8% grade), up 4% month-on-month, but down 15% year-on-year. The imports of cobalt ore were 742 mt in metal content from January to May, up 124% year-on-year. 
Imports of cobalt hydrometallurgy intermediate products were 6,800 mt in metal content in May (calculated at 27% grade), down 4% month-on-month, but up 7% year-on-year. Imports of cobalt hydrometallurgy intermediate products totalled 36,600 mt in metal content from January to May, up 6% year-on-year. 
Imports of unwrought cobalt were 270 mt in metal content in May (calculated at 99.8% grade), up 27% month-on-month, but down 69% year-on-year. Imports of unwrought cobalt totalled 1,550 mt in metal content from January to May, down 64% year-on-year. 
The monthly average import price of cobalt hydrometallurgy intermediate products was $83,085/mt in metal content in May, up 9% month-on-month. The average import price of cobalt hydrometallurgy intermediate products stood at $73,819/mt in metal content from January to May.  
 The imports from Zhejiang, Gansu, and Jiangsu increased, led by a month-on-month increase of 370% in Gansu. 
SMM predicts that the import volume of cobalt intermediate products will continue to decrease in June as the severe flood in South Africa in April disrupted shipments from the Port of Durban.