The re-import of cobalt oxides and hydroxides to China is projected to rise steadily between 2024 and 2028, reaching 184.24 thousand kilograms by 2028 from 158.33 thousand kilograms in 2024. In 2023, the actual value stood lower than 158.33, highlighting an upward trend. Year-over-year growth displays a consistent positive trajectory with an average Compound Annual Growth Rate (CAGR) of circa 3% across five years. Such trends suggest increasing domestic demand driven potentially by expanding battery manufacturing and technological advancements.

Future trends to watch for:

The impact of global cobalt supply fluctuations on re-import volumes.
Advancements in alternative materials or recycling technologies affecting demand.
China's policy changes towards self-sufficiency in raw materials affecting import dynamics.