【SMM Analysis：Overseas Demand Recovery Lower-than-Expected, Refined Cobalt Export Volume MoM】

In September 2024, China's imports of unwrought cobalt were approximately 293 mt (metal content), up 65% MoM and up 12% YoY. In terms of import average price, the average import price of unwrought cobalt in China in September 2024 was 25,679 US dollars/mt (metal content). From January to September 2024, the cumulative import volume was 1,923 mt (metal content), down 40% YoY.

In terms of exports, in September 2024, China's exports of unwrought cobalt were approximately 515 mt (metal content), down 28% MoM and down 4% YoY. In terms of export average price, the average export price of unwrought cobalt in China in September 2024 was 26,069 US dollars/mt (metal content). From January to September 2024, the cumulative export volume was 5,994 mt (metal content), up 137% YoY.