[SMM Analysis: China's Cobalt Intermediate Products Imports Up 107% MoM in May 2026]

Published: Jun 22, 2026 16:55

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In May 2026, China's imports of cobalt hydrometallurgy intermediate products were approximately 2,584 mt in physical content, up 107% MoM and down 95% YoY, of which imports from DRC were approximately 2,066 mt in physical content, up 119% MoM and down 96% YoY.

In May 2026, China's imports of cobalt hydrometallurgy intermediate products stood at approximately 2,584 mt in physical content, up 107% MoM and down 95% YoY, of which imports from the DRC reached about 2,066 mt in physical content, up 119% MoM and down 96% YoY. The average import price of cobalt hydrometallurgy intermediate products in May 2026 was $16,607/mt in physical content, down 3.37% MoM. According to sources, some Chinese-invested miners have been gradually increasing chartered vessel shipments since May, and some leading miners have started to gradually resume shipments from June. Going forward, port arrivals of intermediate products are expected to slowly increase over the coming months and are likely to arrive in large batches after August.

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