In July 2024, China's imports of unwrought cobalt were approximately 120 mt (metal content), down 54% MoM and down 70% YoY. In terms of import average price, the average import price of unwrought cobalt in China in July 2024 was $28,585/mt (metal content). From January to July 2024, the cumulative imports were 1,453 mt (metal content), down 48% YoY.
In terms of exports, in July 2024, China's exports of unwrought cobalt were approximately 654 mt (metal content), down 34% MoM and up 160% YoY. In terms of export average price, the average export price of unwrought cobalt in China in July 2024 was $26,397/mt (metal content). From January to July 2024, the cumulative exports were 4,763 mt (metal content), up 181% YoY.
According to SMM, due to the summer holidays overseas, demand declined, leading to a MoM decrease in July exports. On the import side, due to sufficient domestic supply and lower prices, the economic viability of imports weakened, resulting in a simultaneous decline in import volume.
