【SMM Analysis：In October, China's imports of cobalt hydrometallurgy intermediate products decreased MoM, and the average import price also showed a downward trend.】

According to customs data, in October 2024, China's imports of cobalt hydrometallurgy intermediate products were approximately 16,400 mt (metal content, calculated at 35% grade), down 24% MoM, up 47% YoY. In terms of average import price, in October 2024, the average import price of China's cobalt hydrometallurgy intermediate products was $12,625/mt (metal content).

By country, the Democratic Republic of Congo remained the main import source in October, with imports of approximately 16,200 mt (metal content, calculated at 35% grade) and an average import price of $12,652/mt (metal content), accounting for about 99% of total imports.

By region, the top three provinces for cobalt intermediate product imports in October were Zhejiang, Fujian, and Hubei, with import shares of 28%, 21%, and 11%, respectively.