[SMM data] China's Cobalt Raw material Import data in March 2020

SMM, May 19:

According to Chinese customs statistics, in March 2020, China's imports of cobalt wet smelting intermediates were 32320 physical tons, an increase of 53.1 percent over the previous month, while imports of cobalt concentrates were 2958 physical tons, down 39.8 percent from the previous month. In that month, China imported about 8900 metal tons of cobalt raw materials.

In March, the sharp increase in imports of cobalt intermediate products in China was mainly due to the replenishment of raw materials for production by domestic smelters after the holiday. According to SMM research, China imported about 10, 000 tons of cobalt raw materials in April. Although raw material imports continue to grow, cobalt prices may still pick up slightly, considering that South African ports are unable to ship from the end of March, cobalt raw material imports are low in May and China's raw material supply is tight by mid-June.