China Sees Improvement in Imports&Exports of Cobalt Products in June, SMM Reports

SHANGHAI, Aug. 3 (SMM) – Recently, China Customs released import and export data of cobalt products in June, and SMM finds following insights.

Both Import Volume and Value of Cobalt Ore Grows in June

China’s imports of cobalt ore kept falling in June, according to China Customs. Import volume was up 7.05 per cent from May’s, and off 36 per cent on a yearly basis, and import value hit the month high of the year, with average price staying on the upward track since this March. Imports of unwrought cobalt were down in June on a monthly basis, off 16 per cent MoM, and up 2.29 YoY, and exports of unwrought cobalt tumbled 38 per cent on a monthly basis, but with higher average price.

Global Cobalt Output to See Negative Growth

Tricobalt Tetraoxide Exports Grow 85 Per cent in June

In June, China’s tricobalt tetraoxide imports kept growing on a monthly basis, up 32.92 per cent on a monthly basis, mainly contributed by higher supplies from Finland, with import average price hitting the half-year’s ceiling. Exports of tricobalt tetraoxide were also up significantly in June, up 85 per cent on a monthly basis, the highest level in 1H 2017. Rising demand from Japan and South Korea explained the big rise, with combined demand surging 96.25 per cent on a monthly basis. SMM foresees China’s tricobalt tetraoxide exports to keep growing in July due to favorable price difference over foreign goods.

Imports of cobalt intermediate products by hydrometallurgical processing rebound

Imports of cobalt intermediate products by hydrometallurgical processing rebounded in June, up 69.53 per cent on a monthly basis, as supplies from Democratic Republic of the Congo hit the highest level of 1H 2017, with import value and import average price also peaking half-year’s high. If The Republic of Congo gradually resume its exports of the product, China will see further increases in imports of cobalt intermediate products by hydrometallurgical processing.

China’s Imports&Exports of Cobalt Products in June

Source: China Customs

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