Price for Cobalt Ores and Concentrates in South Africa - 2023

Contents:

1. Price for Cobalt Ores and Concentrates in South Africa (FOB) - 2022
2. Price for Cobalt Ores and Concentrates in South Africa (CIF) - 2022
3. Exports of Cobalt Ores and Concentrates in South Africa
4. Imports of Cobalt Ores and Concentrates in South Africa

Price for Cobalt Ores and Concentrates in South Africa (FOB) - 2022

In 2022, the average cobalt ores and concentrates export price amounted to $55,822 per ton, picking up by 4,736% against the previous year. In general, the export price saw significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($68,387 per ton), while the average price for exports to China ($1,154 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.3%), while the prices for the other major destinations experienced a decline.

Price for Cobalt Ores and Concentrates in South Africa (CIF) - 2022

The average cobalt ores and concentrates import price stood at $4,601 per ton in 2022, which is down by -31.3% against the previous year. In general, the import price, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2013 when the average import price increased by 1,127% against the previous year. Over the period under review, average import prices hit record highs at $30,459 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($10,650 per ton), while the price for Spain ($438 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+52.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Cobalt Ores and Concentrates in South Africa

In 2022, exports of cobalt ores and concentrateses from South Africa dropped rapidly to 100 tons, which is down by -55.4% against 2021. In general, exports showed a precipitous descent. The pace of growth was the most pronounced in 2021 when exports increased by 360%.

In value terms, cobalt ores and concentrates exports soared to $5.6M in 2022. Over the period under review, exports, however, posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cobalt Ores and Concentrates from South Africa in 2022:

1. China (undefined tons)
2. Spain (80.7 tons)
3. Democratic Republic of the Congo (18.8 tons)

Imports of Cobalt Ores and Concentrates in South Africa

In 2022, the amount of cobalt ores and concentrateses imported into South Africa skyrocketed to 40 tons, jumping by 90% on the previous year's figure. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 308% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, cobalt ores and concentrates imports skyrocketed to $184K in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +24.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +93.4% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cobalt Ores and Concentrates to South Africa in 2022:

1. Spain (24.4 tons)
2. South Korea (15.0 tons)

Source: IndexBox Market Intelligence Platform