Key Market Indicators
Russia is set to see a slight increase in its cobalt imports over the next five years, with the figure projected to reach 96,530 kilograms by 2026. This would represent a 2.8% year-on-year average growth rate since 2001, when import demand began to rise by 1.3% annually. In 2021, Russia was ranked 30th in terms of imports, behind Slovenia's 81,750 kilograms. Belgium, the United States, and Japan followed, taking the second, third, and fourth spots respectively. Meanwhile, Russia's cobalt exports are forecast to decrease by 3.3% year-on-year CAGR, dropping from 5,481,800 kilograms in 2021 to 4,493,300 kilograms by 2026. Since 2001, the country's supply has declined by 0.2% year-on-year. Last year, the US overtook Russia in terms of exports, coming in second with 5,481,800 kilograms. The United States, Russia, and China took the top three spots, with the latter coming in fourth.