China's imports of cobalt intermediates, including cobalt hydroxide, surged by 24.5% in July-September versus the prior quarter amid extensive procurement from Chinese consumers, who looked to take advantage of falling cobalt raw material prices during the period.
China imported 85,571 tonnes of cobalt intermediates in the third quarter of this year, up from the 68,717 tonnes shipped in April-June and 48.4% higher than the 57,679 tonnes imported in July-September 2018, according to official but unconfirmed data seen by Fastmarkets.The higher import volumes correspond with weakness in the spot seaborne cobalt hydroxide price, which had dropped sharply in June and hit a record low in July.Fastmarkets'...