[SMM Analysis] South Africa may consider extending the "blockade" time A share metal cobalt concept rises in the afternoon

Published: Apr 9, 2020 15:06

SMM4 8: today A-share metal cobalt plate continued to pull up, western resources back, Huamao shares hit the limit, Jinling Mining, Pengxin Resources, Tibet Mining, Huayu Cobalt Industry rose.

South Africa time, President Cyril Ramafosa (Cyril Ramaphosa) visited the COVID-19 Command Centre for Water and Sanitation in Landwater, Johannesburg, and briefed him on the Centre's activities in response to the epidemic, revealing that the National Coronavirus Command Council was assessing the effectiveness of the 21-day blockade.

After the initial blockade was announced in March, the government may want to extend it, and three weeks will not be enough to flatten the anti-epidemic curve.

President Cyril Ramafosa revealed that the South African government is indeed considering an appropriate extension of the "blockade", the length of which will depend on the current effect. South Africa is a major transit country for cobalt raw materials, with an estimated 60 per cent of cobalt raw materials transported from South Africa in 2019 (excluding customs data, about 17 per cent does not count transit countries).

"see more SMM exclusive Cobalt Lithium New Energy spot prices

Metal cobalt spot, according to SMM quotation learned that on April 8 electrolytic cobalt quoted 24-255000 yuan / ton, the average price is 247400 yuan / ton; cobalt chloride quoted 5.4-57000 yuan / ton, the average price is 55500 yuan / ton, down 1000 yuan / ton compared with yesterday; cobalt oxide quoted 17.8-183000 yuan / ton, the average price is 180500 yuan / ton, 2000 yuan / ton lower than yesterday; Cobalt oxide was quoted at 17.5-180000 yuan / ton, with an average price of 177500 yuan / ton, down 2000 yuan / ton from yesterday, and cobalt powder at 27.5-285000 yuan / ton, with an average price of 280000 yuan / ton, down 3000 yuan / ton from yesterday.

According to SMM, at present, the cobalt raw materials scheduled for shipment in the early stage of the South African port are coordinating the shipping date, which can be delayed but can be transported; the new order for cobalt raw materials and the shipping date are delayed to be notified. If South Africa decides to extend the blockade, it may affect future imports of cobalt raw materials.

 

"Click to sign up:" 2020 (Fifth) China International Nickel Cobalt Lithium Summit Forum "

To sign up for the Nickel Cobalt Lithium Summit or apply to enter the industry exchange group, please scan the code:

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[SMM Flash] China's Chrome Ore Port Stocks Hold Near Record Highs Even After Easing From July Peak
Aug 7, 2026 22:35
[SMM Flash] China's Chrome Ore Port Stocks Hold Near Record Highs Even After Easing From July Peak
Read More
[SMM Flash] China's Chrome Ore Port Stocks Hold Near Record Highs Even After Easing From July Peak
[SMM Flash] China's Chrome Ore Port Stocks Hold Near Record Highs Even After Easing From July Peak
SMM's own port inventory tracking shows China's total chrome ore stockpiles have remained near record levels through the second half of 2026, even after a modest pullback from their 10 July peak. Inventories touched 509.14 (10,000mt) — roughly 5.09 million tonnes — on that date, before easing to approximately 490.15 (10,000mt), or 4.90 million tonnes, by early August, a drawdown of just 3.7%. Set against the trajectory of the year, that decline barely registers: stocks climbed from a trough near 300 (10,000mt) in late February to above 500 (10,000mt) by mid-year, and the current level remains well above anything seen in the first four months of 2026, confirming that the market is still working through a substantial ore overhang at Chinese ports rather than genuinely destocking. Pricing at Qinzhou Port has firmed alongside this marginal pullback rather than because of any real supply tightening. SMM data shows South African chrome concentrate (Cr2O3 40-42%) at 54.5 CNY/mtu and South African chrome lump (Cr2O3 36-38%) at 56.5 CNY/mtu as of 10 July 2026, with concentrate pricing subsequently climbing to 59.61 CNY/mtu by early August — a gain of close to 9% in under a month. That move should be read cautiously against the inventory backdrop: with port stocks still hovering near their 2026 high, the price recovery looks more like a technical bounce or short-term restocking behavior than evidence of a genuine tightening in the underlying supply-demand balance. Bottom line: China's chrome ore port inventories remain near record highs despite the recent dip, and SMM's data suggests the market has not meaningfully worked through this year's substantial stock build. Until inventories fall more decisively from current elevated levels, the recent price firmness at Qinzhou Port is likely to remain vulnerable to renewed downward pressure, particularly if South African arrivals continue at their current pace.
Aug 7, 2026 22:35
[SMM Analysis] South Africa's High-Carbon Ferrochrome Exports Dip Slightly in June, Reflecting Supply Constraints
Aug 7, 2026 22:09
[SMM Analysis] South Africa's High-Carbon Ferrochrome Exports Dip Slightly in June, Reflecting Supply Constraints
Read More
[SMM Analysis] South Africa's High-Carbon Ferrochrome Exports Dip Slightly in June, Reflecting Supply Constraints
[SMM Analysis] South Africa's High-Carbon Ferrochrome Exports Dip Slightly in June, Reflecting Supply Constraints
Aug 7, 2026 22:09
[SMM Analysis] South Africa's Chrome Ore Exports Hold Above 2.4 Mt in June as China's Dominance Grows Amid Policy Shifts
Aug 7, 2026 21:57
[SMM Analysis] South Africa's Chrome Ore Exports Hold Above 2.4 Mt in June as China's Dominance Grows Amid Policy Shifts
Read More
[SMM Analysis] South Africa's Chrome Ore Exports Hold Above 2.4 Mt in June as China's Dominance Grows Amid Policy Shifts
[SMM Analysis] South Africa's Chrome Ore Exports Hold Above 2.4 Mt in June as China's Dominance Grows Amid Policy Shifts
Aug 7, 2026 21:57
[SMM Analysis] South Africa may consider extending the "blockade" time A share metal cobalt concept rises in the afternoon - Shanghai Metals Market (SMM)