Imports of cobalt raw material grow 12% in 2018

SHANGHAI, Jan 31 (SMM) – China imported some 77,200 mt, in metal content, of cobalt raw materials in 2018, up 12% from 2017, according to the latest customs data. Among this, cobalt ore stood at 12,800 mt, up 59% year on year, and cobalt semi products came in at 63,000 mt, up 9% from 2017. 

In December, China's imports of cobalt raw materials registered some 6,433 mt in Co content, down 2% from November and down 3% from December 2017.

This included some 938 mt of cobalt ore and 5,464 mt of cobalt semi products, both in Co content. The readings were up 279% and down 13%, respectively, from November. 

Average import prices of hydrometallurgical cobalt semi products in December slid 15% on the month and fell 2% on the year. 

SMM expects global supplies of cobalt raw materials to increase 19.4%, or 23,700 mt, year on year and total 145,400 mt in 2018. Readings were in metal content. 

Overseas suppliers likely contributed some 15,300 mt in metal content of the worldwide increase in supply, SMM estimated.