【SMM Analysis：Market Supply Increases, Refined Cobalt Export Average Price Declines MoM】

In August 2024, China's imports of unrefined cobalt were approximately 177 mt (metal content), up 47% MoM and up 95% YoY. In terms of import average price, the average import price of unrefined cobalt in China in August 2024 was $24,601/mt (metal content). From January to August 2024, the cumulative imports were 1,630 mt (metal content), down 44% YoY.

In terms of exports, in August 2024, China's exports of unrefined cobalt were approximately 716 mt (metal content), up 10% MoM and up 145% YoY. In terms of export average price, the average export price of unrefined cobalt in China in August 2024 was $25,975/mt (metal content). From January to August 2024, the cumulative exports were 5,478 mt (metal content), up 175% YoY.