Cobalt intermediates shipments to China leapt by 84.7% month on month in July and local futures prices responded by plummeting on Tuesday August 25 after the data was released.
China imported 28,087 tonnes of cobalt intermediates, which are mostly comprised of cobalt hydroxide - a key feedstock for cobalt refineries - in July, up from 15,206 tonnes in June, and also 9.2% higher year on year, according to Chinese customs data.Shipment in July are only 10% lower than this year's peak of 31,210 tonnes in April ahead of the severe logistical disruptions that took place in...