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

Published: Aug 27, 2020 15:48

Save

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

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

3 hours ago

"Sodium-ion Battery" Included in the "Strengthened" List During the 15th Five-Year Plan: One Policy, Three Accounts [SMM Analysis]

[SMM Analysis: Sodium-ion Batteries Written into the "Strengthening" List in the 15th Five-Year Plan: One Policy, Three Accounts] SMM, September 18: On September 15, the MIIT and the National Development and Reform Commission (NDRC) jointly issued the "15th Five-Year Plan for the Development of the Electronic Information Manufacturing Industry." Most market attention was drawn to two aggregate figures—by 2030, revenue of enterprises above designated size is expected to exceed 30 trillion yuan, and R&D intensity is expected to reach 3.5%. However, in SMM's view, what truly carries information for the sodium-ion battery industry chain is the statement of less than 100 words in the "New-type Battery" column: ......R&D and industrialisation of low-cost, long-life sodium-ion batteries.

3 hours ago

[SMM Cobalt Morning Meeting Summary] Weak Demand and Falling Costs Jointly Keep Industry Chain Prices in the Doldrums

The cobalt industry chain remained under pressure this week. Refined cobalt shot up and then pulled back amid phased purchasing, with the electronic trading price retreating from 289,000 yuan/mt to around 275,000 yuan/mt. Quotes and transactions for intermediate products remained absent, and sales pressure on miners gradually accumulated. Cobalt salt demand was weak, and cobalt sulphate fell into a negative feedback loop of "price cuts—losses—raw material declines—lower costs," with some recycled-source quotes dropping to 57,000–58,000 yuan/mt. Cobalt chloride and Co3O4 continued to weaken under downstream production cuts and sluggish end-use consumption. Cobalt powder downstream users were still digesting high-priced inventory, and new purchasing had yet to begin. Ternary cathode precursor and ternary cathode material prices fell along with nickel, cobalt, and lithium raw materials, with sluggish power demand prompting enterprises to turn cautious in quoting and purchasing. LCO's "September peak season" expectations fell through, with weakening cost support and insufficient end-user stockpiling, leaving short-term prices still at risk of further decline. Some enterprises may carry out small-scale stockpiling before the National Day holiday, but whether the industry chain can stabilize still depends on the recovery of end-use demand and the pace of inventory destocking.

3 hours ago

DRC Regulator Orders Glencore’s KCC and Mutanda to Terminate Contracts with Non-Compliant Subcontractors

According to a decision published by the Democratic Republic of Congo’s Regulatory Authority for Subcontracting in the Private Sector (ARSP) on September 15, Glencore’s Kamoto Copper Company (KCC) and Mutanda Mining (MUMI) have been ordered to terminate existing contracts with subcontractors that do not meet local legal eligibility requirements and remove them from their supplier lists. The decision followed a regulatory review of the two companies’ suppliers and service providers. Of the 1,427 suppliers and service providers submitted by KCC, only 472 were registered by ARSP as eligible, while 955 failed to meet the required conditions. At Mutanda, 548 of the 1,133 submitted suppliers were deemed eligible, while 585 failed to qualify. Both companies are also required to submit remediation plans to ARSP within 30 days of receiving the notice and are prohibited from signing new subcontracting agreements with the affected companies until they achieve compliance. KCC and Mutanda are both major copper-cobalt assets in the DRC. Continued enforcement of the measures could increase supply-chain adjustment and compliance-management pressures for the two operations. The original source is ARSP’s official Decision No. 020/ARSP/DG/2026, dated September 11 and publicly released on September 15. For publication, retaining “KCC and Mutanda” in the headline would make the direct connection to Glencore’s key copper-cobalt assets in the DRC immediately clear to cobalt-market readers.

3 hours ago