[SMM Analysis] China's exports and imports of unwrought cobalt both saw significant growth in April 2025

In April 2025, China's imports of unwrought cobalt amounted to approximately 839 mt (metal content), up 60% MoM and 230% YoY. In terms of average import prices, the average import price of unwrought cobalt in China in April 2025 was $26,831/mt (metal content), up 36% MoM. From January to April 2025, cumulative imports reached 2,337 mt (metal content), up 175% YoY.

In terms of exports, China's exports of unwrought cobalt in April 2025 amounted to approximately 4,086 mt (metal content), up 201% MoM and 556% YoY. In terms of average export prices, the average export price of unwrought cobalt in China in March 2025 was $31,119/mt (metal content), up 28% MoM. From January to April 2025, cumulative exports reached 7,397 mt (metal content), up 185% YoY.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Liu Yujun 021-20707895

Zhou Zhicheng 021-51666711