Monthly Cobalt Market Report Jan 2018

Contents

1. Market Highlights 3
2. Economy and Policy 3
2.1 Economy and Policy in China 3
2.1.1 NBC releases Composite PMI Output Index for first time 3
2.2 Economy and Policy abroad 3
2.2.Asian Metal Copyright8%min price trend in China in Jan 2018 RMBkg 4 Graph 3 Cobalt powder 99.Asian Metal Copyright2 Eurozone's GDP up by 2.5% in 2017 3
3. Company News 3
3.1 Yantai Kaishi's cobalt metal output decreases in January 3
4. Market Movements 3
4.1 Chinese Market 3
4.1.1 Cobalt ore price up continuously 3
4.1.2 Cobalt metal price up sharply 4
4.1.3 Cobalt powder price up notably 4
4.1.4 Cobalt carbonate price rises further 4
4.1.5 Cobalt sulfate price rebounds slowly 4
4.1.6 Cobalt chloride price up 5
4.1.7 Cobalt tetroxide up further 5
4.1.8 Cobalt oxide price continues to rise 5
4.2 International Market 6
4.2.1 European cobalt metal price up sharply 6
4.2.2 European cobalt oxide price up further 6
4.2.3 American cobalt metal price up further 6
5. Producers Statistics 7
5.1 China's cobalt metal output down by 4.3% MOM in January 2018 7
5.2 China's cobalt sulfate output up by 1.2% YOY in January 2018 7
5.3 China's cobalt chloride output down by 8.9% MOM in January 2018 8
5.4 China's cobalt tetroxide output up by 17.0% YOY in January 2018 8
6. Customs Statistics 8
6.1 China's cobalt hydrometallurgy intermediates imports up substantially by 115.8% YOY in December 2017 8
6.2 China's cobalt concentrate imports down by 6.3% MOM in December 2017 9
6.3 China's cobalt metal imports up by 53.9% MOM in December 2017 10
6.4 China's cobalt tetroxide exports up by 21.1% MOM in December 2017 11
7. Relevant Industry News 12
7.1 New mining act to be passed in DRC with cobalt export tariff to rise 12
7.2 POSCO to establish JV companies of battery material with Huayou Cobalt 12
7.3 Hezong Science & Technology to invest RMB436 million into expanding cobalt production chain 12
7.4 MIIT: Integration of new energy vehicles should be actively carried out after implementation of integral method 13
8. Market Outlook for Next Month 13
8.1 Cobalt concentrate 13
8.2 Cobalt metal 13
8.3 Cobalt powder 13
8.4 Cobalt carbonate 13
8.5 Cobalt sulfate 13
8.6 Cobalt chloride 13
8.7 Cobalt tetroxide 13
8.8 Cobalt oxide 14

Graph 1 Cobalt concentrate 6-8% price trend in China in Jan 2018 (USD/lb) 3
Graph 2 Cobalt metal 99.8%min price trend in China in Jan 2018 (RMB/kg) 4
Graph 3 Cobalt powder 99.5%min price trend in China in Jan 2018 (RMB/kg) 4
Graph 4 Chinese cobalt carbonate 46%min price trend in Jan 2018 (RMB/t) 4
Graph 5 Cobalt sulfate 20.5%min price trend in China in Jan 2018 (RMB/t) 4
Graph 6 Cobalt sulfate 20%min price trend in China in Jan 2018 (RMB/t) 4
Graph 7 Cobalt chloride 24%min price trend in China in Jan 2018 (RMB/t) 5
Graph 8 Cobalt tetroxide 73.5%min price trend in China in Jan 2018 (RMB/kg) 5
Graph 9 Cobalt oxide 72%min price trend in China in Jan 2018 (RMB/kg) 5
Graph 10 Cobalt protoxide 78%min price trend in China in Jan 2018 (RMB/kg) 5
Graph 11 Cobalt metal 99.8%min price trend in Europe in Jan 2018 (USD/lb) 6
Graph 12 Cobalt metal 99.3%min price trend in Europe in Jan 2018 (USD/lb) 6
Graph 13 Cobalt oxide 72%min price trend in Europe in Jan 2018 (EUR/kg) 6
Graph 14 Cobalt metal 99.8%min price trend in U.Asian Metal Copyright7 Cobalt tetroxide up further 5 4.Asian Metal CopyrightS. in Jan 2018 (USD/lb) 6
Graph 15 Cobalt metal 99.3%min price trend in U.Asian Metal Copyright4 MIIT: Integration of new energy vehicles should be actively carried out after implementation of integral method 13 8.Asian Metal CopyrightS. in Jan 2018 (USD/lb) 6
Graph 16 China's monthly output of cobalt metal from Jan 2016 to Jan 2018 (ton) 7
Graph 17 China's monthly output of cobalt sulfate from Jan 2016 to Jan 2018 (ton) 7
Graph 18 China's cobalt chloride output by month from 2016 to 2018 (t) 7
Graph 19 China's cobalt tetroxide output by month from 2016 to 2018 (t) 8
Graph 20 China's monthly imports for cobalt hydrometallurgy intermediates from Jan 2016 to Dec 2017 (ton) 8
Graph 21 China's monthly imports of cobalt concentrate from Jan 2016 to Dec 2017 (ton) 9
Graph 22 China's monthly imports for cobalt meal from Jan 2016 to Dec 2017 (t) 9
Graph 23 China's exports of cobalt tetroxide by month from Jan 2016 to Dec 2017 (ton) 10

Table 1 China's imports of cobalt hydrometallurgy intermediates in Nov 2017 8
Table 2 China's imports of cobalt concentrate in Dec 2017 9
Table 3 China's cobalt metal imports in December 2017 10
Table 4 China's cobalt tetroxide exports in Dec 2017 10






.Asian Metal Copyright2 POSCO to establish JV companies of battery material with Huayou Cobalt 12 7Asian Metal Copyright