Price for Cobalt Ores and Concentrates in the United Arab Emirates - 2021

Contents:

1. Price for Cobalt Ores and Concentrates in the United Arab Emirates (CIF) - 2022
2. Price for Cobalt Ores and Concentrates in the United Arab Emirates (FOB) - 2022
3. Imports of Cobalt Ores and Concentrates in the United Arab Emirates
4. Exports of Cobalt Ores and Concentrates in the United Arab Emirates

Price for Cobalt Ores and Concentrates in the United Arab Emirates (CIF) - 2022

In 2022, the average cobalt ores and concentrates import price amounted to $3,392 per ton, reducing by -17.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 226%. Over the period under review, average import prices reached the maximum at $43,180 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Democratic Republic of the Congo.

From 2012 to 2022, the rate of growth in terms of prices for Democratic Republic of the Congo amounted to -0.4% per year.

Price for Cobalt Ores and Concentrates in the United Arab Emirates (FOB) - 2022

The average cobalt ores and concentrates export price stood at $19,127 per ton in 2022, reducing by -3.4% against the previous year. Over the period under review, the export price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 399%. As a result, the export price reached the peak level of $57,581 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($92,452 per ton), while the average price for exports to India ($4,104 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cobalt Ores and Concentrates in the United Arab Emirates

Cobalt ores and concentrates imports into the United Arab Emirates reduced sharply to 8.1K tons in 2022, with a decrease of -27.6% on 2021. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 488%. As a result, imports attained the peak of 11K tons, and then fell sharply in the following year.

In value terms, cobalt ores and concentrates imports shrank dramatically to $27M in 2022. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 419%. As a result, imports reached the peak of $46M, and then shrank significantly in the following year.

Top Suppliers of Cobalt Ores and Concentrates to the United Arab Emirates in 2022:

1. Democratic Republic of the Congo (8.1K tons)

Exports of Cobalt Ores and Concentrates in the United Arab Emirates

In 2022, shipments abroad of cobalt ores and concentrateses decreased by -2.2% to 12 tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +9.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26%. As a result, the exports attained the peak of 12 tons, and then dropped slightly in the following year.

In value terms, cobalt ores and concentrates exports declined to $231K in 2022. Over the period under review, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 333% against the previous year. As a result, the exports attained the peak of $244K, and then fell in the following year.

Top Export Markets for Cobalt Ores and Concentrates from the United Arab Emirates in 2022:

1. India (9.9 tons)
2. Qatar (1.9 tons)
3. Oman (0.3 tons)

Source: IndexBox Market Intelligence Platform