China's cobalt tetroxide exports down by 30.7% MOM in January
2018-03-13 15:00:21 [Print]
BEIJING (Asian Metal) 13 Mar 18 - According to the statistics from China Customs, China exported about 565t of cobalt tetroxide in January 2017, down by 30.7% MOM and 9.7% YOY.
China's cobalt tetroxide exports by month (t)
Although the international market gradually recovered after the end of the Christmas and the New Year's Day holiday, export orders of cobalt tetroxide still decreased slightly in January as most consumers have completed stock-building before and the 3C market was in the slack season. In addition, the exchange rate of RMB against USD started to change sharply from January and the value magnitude of exported products declined after RMB appreciated. Thus, China's cobalt tetroxide exports decreased in January.
With the arrival of the Chinese Spring Festival holiday in February, continuous appreciations of RMB and surging imported raw material prices, the operating rate of cobalt tetroxide decreased slightly in China. However, the demand in the 3C market will resume after the international market recovers and Chinese consumers still need to maintain normal supply to orders. Thus, exports of Chinese cobalt tetroxide are expected to rebound slightly in February.
China's cobalt tetroxide exports by month (t)
Although the international market gradually recovered after the end of the Christmas and the New Year's Day holiday, export orders of cobalt tetroxide still decreased slightly in January as most consumers have completed stock-building before and the 3C market was in the slack season. In addition, the exchange rate of RMB against USD started to change sharply from January and the value magnitude of exported products declined after RMB appreciated. Thus, China's cobalt tetroxide exports decreased in January.
With the arrival of the Chinese Spring Festival holiday in February, continuous appreciations of RMB and surging imported raw material prices, the operating rate of cobalt tetroxide decreased slightly in China. However, the demand in the 3C market will resume after the international market recovers and Chinese consumers still need to maintain normal supply to orders. Thus, exports of Chinese cobalt tetroxide are expected to rebound slightly in February.
Cobalt Tetroxide 73.5%min Delivered China
Unit:RMB/kg
China cobalt tetroxide producers' inventory to production ratio statistics by province by month
Unit: %
