China imported 9,100 mt (Co content) of cobalt raw materials in December 2020, up 2% from November, but down 9% from a year ago, customs data showed. Imports totalled 90,000 mt (Co content) in 2020, basically the same as the previous year. 

China's imports of cobalt raw materials, including ore and intermediate products, came in at 3,700 mt in metal content in May, down 57% from a month ago and down 55% from a year ago, showed the latest customs data. 

A total of 91 vessels carrying 14.05 million mt of iron ore arrived at major Chinese ports during May 3-9, SMM estimates. This was up 1.21 million mt from the prior week, and up 1.72 million mt from the same period last year.

China exported 4,316.7 mt of rare earth in April, down 22.24% from an at least six-year high in March and down 0.28% from a year earlier, showed data from the General Administration of Customs released Thursday.

SMM expects the import prices of spodumene concentrate to fall further and approach $420/mt cif in the months ahead as domestic demand may decline with smelters shifting ore stockpiles into lithium salt finished products inventory.

Northwest China’s Gansu province is mulling a plan to encourage local companies to stockpile up to 436,000 mt of nonferrous metals for at least seven months to support the market which has been hit by the COVID-19 pandemic crisis.

Demand for Chinese lithium cobalt oxide (LCO), a type of cathode material used to produce lithium batteries, could fall 40% in May, SMM estimates. This is against the backdrop of the coronavirus crisis overseas, which has led to steep declines in China’s export orders and prompted domestic smartphone makers to mull output cut.

A total of 78 vessels carrying 12.01 million mt of iron ore arrived at major Chinese ports during April 12-18, SMM estimates. This was down 1.82 million mt from the prior week, and down 1.22 million mt from the same period last year.

China's imports of hydrometallurgical cobalt intermediate products, a raw material for producing cobalt, came in at 36,012 mt in the first two months of the year, showed the latest customs data. 

Demand remained subdued in China’s cobalt market last week while a handful of consumers purchased as required. The market may find some near-term support from the extended national lockdown of South Africa, which will last until end April and aim to curb the COVID-19 pandemic.