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

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.