[SMM Analysis] China's imports of unwrought cobalt in February 2025 down 4.7% MoM

In February 2025, China's imports of unprocessed cobalt were approximately 475.1 mt (metal content), down 4.7% MoM and up 111.2% YoY. In terms of average import price, the average price for unprocessed cobalt in February 2025 was $21,598/mt (metal content). For the period from January to February 2025, cumulative imports reached 973.9 mt (metal content), up 163% YoY.

On the export side, in February 2025, China's exports of unprocessed cobalt were around 452.3 mt (metal content), down 70% MoM and up 54.2% YoY. Regarding the average export price, the average price for unprocessed cobalt in February 2025 was $22,230/mt (metal content). For the period from January to February 2025, cumulative exports amounted to 1,958.1 mt (metal content), up 19.1% YoY.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Ying Xu 021-51666707

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Zhicheng Zhou 021-51666711

Yueming Li 021-51666809