China’s cobalt raw materials imports increased more than expected in July, to rise further in H2 2020

Published: Aug 27, 2020 15:48

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Customs data showed that China imported 8,400 mt (Co content) of cobalt raw materials in July, jumping 92% from June and rising 10% from a year earlier. For January to July, imports totalled 45,200 mt (Co content), up 4% from the same period last year.

SHANGHAI, Aug 27 (SMM) — Customs data showed that China imported 8,400 mt (Co content) of cobalt raw materials in July, jumping 92% from June and rising 10% from a year earlier. For January to July, imports totalled 45,200 mt (Co content), up 4% from the same period last year.

Imports of cobalt ore stood at 502 mt (Co content) in July, soaring 1,022% on the month, but falling 16% on the year, and totalled 2,600 mt (Co content) in the first seven months of this year, down 24% from the same period last year.

Imports of intermediate products of cobalt hydro-metallurgy came in at 7,600 mt (Co content) in July, up 85% month on month and 9% year on year, with an average import price of $28,496/mt Co, rising 4% on the month and 19% on the year. For January to July, imports totalled 40,600 mt (Co content), 3% higher than a year ago, and import prices averaged $25,785/mt Co, falling 10% on a yearly basis.

SMM expects that 8,400 mt (Co content) of cobalt raw materials will arrive at Chinese ports in August, and 8,200 mt (Co content) in September.

Cobalt raw materials Imports

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