In 2023, China dominated the global import market for cobalt ores and concentrates, followed by Zambia and South Korea. Noteworthy variations were observed: There's a decline in China's imports by 0.86% and Finland by 26.37%. Conversely, Australia showed a remarkable increase of 181.53%, driven by heightened demand or new supply agreements. Spain and Belgium also recorded positive growth.
Future trends to watch include China's continued demand for cobalt, potentially stabilizing as domestic production ramps up. Zambia's role may strengthen due to regional partnerships. Emerging markets like Australia could see further growth due to increased mining initiatives or technological advancements. Monitoring geopolitical impacts and technological shifts in battery manufacturing will be key.
Top countries in Import of Cobalt Ores and Concentrates by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 576,300,000 | 2023 | +2.1% | -0.86% | View data |
| 2 | 2 Zambia | 234,800,000 | 2023 | +2.95% | +3.43% | View data |
| 3 | 3 South Korea | 19,142,000 | 2023 | +5.41% | -0.79% | View data |
| 4 | 4 Spain | 8,183,600 | 2023 | +5.85% | +6.23% | View data |
| 5 | 5 Finland | 4,904,200 | 2023 | -34.77% | -26.37% | View data |
| 6 | 6 Belgium | 1,098,600 | 2023 | -4.43% | +1.28% | View data |
| 7 | 7 Australia | 484,460 | 2023 | +4.03% | +181.53% | View data |
| 8 | 8 Luxembourg | 361,050 | 2023 | -17.59% | -16.25% | View data |
| 9 | 9 Czech Republic | 29,880 | 2023 | -3.05% | -7.2% | View data |
| 10 | 10 Qatar | 11,090 | 2023 | -18.03% | -12.45% | View data |
