Cobalt Market Report September 2017

1 Monthly highlights 3
2 Company news 3
2.1 Tianjin Maolian’s cobalt chloride output down in September 3
2.2 Yantai Kaishi resumes cobalt metal production ahead of schedule 3
2.3 Jiangsu Xiongfeng increases operation capacity for cobalt chloride in September 4
2.4 Quzhou Xinya expects to see further increasing cobalt sulfate output in September 4
3 Chinese market review 4
3.1 Financial news review 4
3.1.1 Four state ministries to study policy after cancellation of subsidies for NEV 4
3.1.2 Five Ministries of MIIT announces parallel management measures for average fuel consumption of passenger car enterprises and points system for new energy vehicles 4
3.2 Market review 4
3.2.1 Cobalt concentrate prices rise 4
3.2.2 Cobalt metal prices rise further 4
3.2.3 Cobalt power prices soar 5
3.2.4 Cobalt carbonate prices up 5
3.2.5 Cobalt sulfate prices continue to rise 5
3.2.6 Cobalt chloride prices rebound 6
3.2.7 Cobalt tetroxide prices edge up 6
3.2.8 Cobalt oxide prices increase 6
4 International market review 6
4.1 Market review 6
4.1.1 European cobalt metal prices rise 6
4.1.2 European cobalt oxide prices up 7
4.1.3 US cobalt metal prices rise 7
5 Producer’s data analysis 7
5.1 China’s cobalt metal output up by 10.8% MOM in September 7
5.2 China’s cobalt sulfate output up by 10.3% MOM in September 8
5.3 China’s cobalt tetroxide output up by 2.9% YOY in September 8
6 Import and export data 8
6.1 China’s cobalt hydrometallurgy intermediates imports up by 88.7% MOM in August 8
6.2 China’s cobalt metal imports down by 16.7% MOM in August 9
6.3 China’s cobalt tetroxide exports up by 46.1% MOM in August 10
7 Related industry news 11
7.1 First Cobalt exits Congo to focus on Canada 11
7.2 Cruz Cobalt increases acreage on Chicken Hawk Cobalt prospect 11
8 Market outlook 11
8.1 Cobalt concentrate and cobalt metal 11
8.2 Cobalt power and cobalt carbonate 11
8.3 Cobalt sulfate and cobalt chloride 11
8.4 Cobalt tetroxide and cobalt oxide 11

Graph Content
Graph 1 Chinese cobalt concentrate 6-8% price trend from Aug to Sep 2017 (USD/lb) 4
Graph 2 Chinese cobalt metal 99.8%min price trend from Aug to Sep 2017 (RMB/kg) 4
Graph 3 Chinese cobalt powder 99.5%min price trend from Aug to Sep 2017 (RMB/kg) 4
Graph 4 Chinese cobalt carbonate 46%min price trend from Aug to Sep 2017 (RMB/t) 4
Graph 5 Chinese cobalt sulfate 20.5%min price trend from Aug to Sep 2017 (RMB/t) 5
Graph 6 Chinese cobalt sulfate 20%min price trend from Aug to Sep 2017 (RMB/t) 5
Graph 7 Chinese cobalt chloride 24%min price trend from Aug to Sep 2017 (RMB/t) 5
Graph 8 Chinese cobalt tetroxide 73.5%min price trend from Aug to Sep 2017 (RMB/kg) 5
Graph 9 Chinese cobalt oxide 72%min price trend from Aug to Sep 2017 (RMB/kg) 5
Graph 10 Chinese cobalt oxide 78%min price trend from Aug to Sep 2017 (RMB/kg) 6
Graph 11 European cobalt metal 99.8%min price trend from Aug to Sep 2017 (USD/lb) 6
Graph 12 European cobalt metal 99.3%min price trend from Jan to Feb 2017 (USD/lb) 6
Graph 13 European cobalt oxide 72%min price trend from Aug to Sep 2017 (EUR/kg) 6
Graph 14 US cobalt metal 99.8%min price trend from Aug to Sep 2017 (USD/lb) 6
Graph 15 US cobalt metal 99.3%min price trend from Aug to Sep 2017 (USD/lb) 7
Graph 16 China’s monthly output of cobalt metal (tonne) 7
Graph 17 China’s monthly output for cobalt sulfate (tonne) 7
Graph 18 China’s monthly output for cobalt tetroxide (tonne) 7
Graph 19 China’s import volume of cobalt hydrometallurgy intermediates (tonne) 8
Graph 20 China’s cobalt metal monthly imports (tonne) 9
Graph 21 China’s cobalt tetroxide exports by month (tonne) 9

Table Content
Table 1 China’s imports for cobalt intermediate products by hydrometallurgy in Aug 2017 8
Table 2 China’s cobalt concentrate imports in Aug 2017 8
Table 3 China’s cobalt metal imports in Aug 2017 9
Table 4 China’s cobalt tetroxide exports in Aug 2017 9
.Asian Metal Copyright6 Cobalt chloride prices rebound 6 3Asian Metal Copyright