【SMM Analysis】China's Unwrought Cobalt Exports and Average Export Price Surged MoM in March 2025

In March 2025, China's imports of unwrought cobalt were approximately 525 mt (metal content), up 10.5% MoM and up 135% YoY. In terms of import prices, the average import price of unwrought cobalt in China in December 2024 was $19,711/mt (metal content), down 8.7% MoM. From January to March 2025, cumulative imports reached 1,499 mt (metal content), up 152.4% YoY.

On the export side, China's exports of unwrought cobalt in March 2025 were approximately 1,353 mt (metal content), up 199% MoM and up 37% YoY. In terms of export prices, the average export price of unwrought cobalt in China in March 2025 was $24,255/mt (metal content), up 9% MoM. From January to March 2025, cumulative exports reached 68,412 mt (metal content), down 24.7% YoY.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lyu 021-20707875

Yujun Liu 021-20707895

Zhicheng Zhou 021-51666711