1.The hydrometallurgical cobalt intermediate imports up significantly
The hydrometallurgical cobalt intermediate imports in September reached 61,359 tonnes, with a month-on-month increase of 18.42% and a year-on-year increase of 100.57%, according to data from the General Administration of Customs of the People's Republic of China. The imported amount for the month was $282.07 million US dollars, with an average import price of $4,597/tonne; The cumulative imports totaled 464,214 tonnes, with a cumulative imported amount of approximately $2,197.14 million US dollars and an average price of $4,739/t.
The hydrometallurgical cobalt intermediate imports in September reached 61,359 tonnes, with a month-on-month increase of 18.42% and a year-on-year increase of 100.57%, according to data from the General Administration of Customs of the People's Republic of China. The imported amount for the month was $282.07 million US dollars, with an average import price of $4,597/tonne; The cumulative imports totaled 464,214 tonnes, with a cumulative imported amount of approximately $2,197.14 million US dollars and an average price of $4,739/t.
2. Classification of import data
In September, there were 48,310 tonnes of hydrometallurgical cobalt intermediate imports imported. According to the countries' imports data, Russia accounted for 0.7% and the Democratic Republic of Congo accounted for 99.3%.
According to the imported trade ways, general trade occupied 81.26%, processing trade accounted for 4.55%, logistics goods in customs special supervision areas accounted for 9.66%, inbound and outbound goods in bonded supervision areas occupied 0.45%, and processing trade accounted for 4.09%.
3. The unwrought cobalt imports up MoM
The unwrought cobalt imports in September went up 65.43% to 292.809 tonnes. The import amount for the month was approximately $7,519,015 US dollars, and the average imported price was $25,678.91/t, according to data from the General Administration of Customs of the People's Republic of China.
Moreover, there were 293 tonnes of unwrought cobalt imported, with imports from Canada accounting for 37.54% and imports from Indonesia accounting for 61.47%.
According to the classification of imported trade ways, the proportion of general trade reached 50%, and the proportion of logistics goods in customs special supervision areas covered 25%.
4. MHP imports slow down in Q3
China's MHP imported 1,905 metric tonnes of cobalt in September, a MoM decrease of 9.32% and a YoY increase of 61.16%, according to data from the General Administration of Customs of the People's Republic of China. From January to September 2024, China's MHP imported 17,762 metric tonnes of cobalt, with a cumulative year-on-year increase of 23.83%. Indonesia is the largest source of imports, with an import volume of 1,705 tonne, accounting for 89.52% of the total imports.
China's MHP imported 1,905 metric tonnes of cobalt in September, a MoM decrease of 9.32% and a YoY increase of 61.16%, according to data from the General Administration of Customs of the People's Republic of China. From January to September 2024, China's MHP imported 17,762 metric tonnes of cobalt, with a cumulative year-on-year increase of 23.83%. Indonesia is the largest source of imports, with an import volume of 1,705 tonne, accounting for 89.52% of the total imports.
In September, MHP imported 1,905 tonnes of cobalt. By country data, imports from Indonesia accounted for 89.52%, Australia for 0.1%, Papua New Guinea for 4.25%, Finland for 3.67%, Turky for 1.97%, and other countries for 0.47%.
5. Summary
At present, the recovery of overseas demand is slow, and the supply of raw materials is relatively sufficient. However, there are few transactions and low prices in the European market, and the import changes of unwrought cobalt and cobalt intermediate are relatively obvious. The domestic market trading is relatively silent, and some smelters are gradually focusing on long-term raw material orders. The overall cobalt prices may still be at a low level. Overall, it is expected that the market may still be oversupplied in the short term.
At present, the recovery of overseas demand is slow, and the supply of raw materials is relatively sufficient. However, there are few transactions and low prices in the European market, and the import changes of unwrought cobalt and cobalt intermediate are relatively obvious. The domestic market trading is relatively silent, and some smelters are gradually focusing on long-term raw material orders. The overall cobalt prices may still be at a low level. Overall, it is expected that the market may still be oversupplied in the short term.
