Import volumes of cobalt ore increase by ten times in Xiamen Free Trade Area in January and February
2017-03-24 18:45:12 [Print]
According to Xiamen Inspection and Quarantine Bureau, import volumes of cobalt ore were 1,040.4t in Xiamen free trade area in January and February in 2017 with value of USD2.046 million, up by 942.9% YOY. The import volumes were 38,200t with value of USD40.602 million in 2016, up by 752.2% YOY. The main exporters are Switzerland, South Africa, Singapore and Hong Kong, China.
Cobalt ore is a kind of magnetic hard metal of high melting point and good stability. It’s the main raw material of heat resistant alloy, hard alloy, anticorrosive alloy, magnetic alloy and cobalt salt. The material is widely used in aviation, aerospace, electronics, machinery manufacturing, chemical and ceramic industries. It’s an important strategic material. The grade of cobalt ore is low in China. The production and processing technology is complex. The recovery rate of cobalt metal is low and production cost is high, so domestic cobalt output supply is insufficient and China imports half of the total volumes every year. With the widely application of cobalt products in battery industry and diamond tools industry, China’s demand for cobalt ore increases and prices rise substantially.
Xiamen free trade area has the advantage of bonded policy, which provides convenience for bulk commodity imports. Xiamen harbor is a natural harbor and the rail-sea intermodal transportation provides good condition of logistics transport. Inspection and quarantine department are improving comprehensive competitiveness of the harbor by optimizing processes, perfecting processing system of inspection and quarantine and improving information services.
Cobalt ore is a kind of magnetic hard metal of high melting point and good stability. It’s the main raw material of heat resistant alloy, hard alloy, anticorrosive alloy, magnetic alloy and cobalt salt. The material is widely used in aviation, aerospace, electronics, machinery manufacturing, chemical and ceramic industries. It’s an important strategic material. The grade of cobalt ore is low in China. The production and processing technology is complex. The recovery rate of cobalt metal is low and production cost is high, so domestic cobalt output supply is insufficient and China imports half of the total volumes every year. With the widely application of cobalt products in battery industry and diamond tools industry, China’s demand for cobalt ore increases and prices rise substantially.
Xiamen free trade area has the advantage of bonded policy, which provides convenience for bulk commodity imports. Xiamen harbor is a natural harbor and the rail-sea intermodal transportation provides good condition of logistics transport. Inspection and quarantine department are improving comprehensive competitiveness of the harbor by optimizing processes, perfecting processing system of inspection and quarantine and improving information services.
Cobalt Conc. 6-8% CIF China
Unit:USD/lb Co
China cobalt chloride producers' sales volume statistics by province by month
Unit: mt
