Mexico: Cobalt Market Overview 2020

Cobalt Market Size in Mexico

The revenue of the cobalt market in Mexico amounted to $X in 2017, declining by -X% against the previous year. In general, cobalt consumption continues to indicate an abrupt slump. The most prominent rate of growth was recorded in 2011, when it surged by X% year-to-year. Over the period under review, the cobalt market attained its maximum level of $X in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Cobalt Production in Mexico

In 2017, cobalt production in Mexico totaled X tonnes, waning by -X% against the previous year. Overall, cobalt production continues to indicate a precipitous curtailment. Over the period under review, the cobalt production attained its peak figure volume of X tonnes in 2016, and then declined slightly in the following year.

Cobalt Exports from Mexico

Cobalt exports from Mexico totaled X tonnes in 2017, declining by -X% against the previous year. Overall, cobalt exports continue to indicate an outstanding growth. The growth pace was the most rapid in 2008, when exports increased by X% y-o-y. Over the period under review, the cobalt exports attained its peak figure volume of X tonnes in 2016, and then declined slightly in the following year.

In value terms, cobalt exports stood at $X in 2017. In general, cobalt exports continue to indicate a skyrocketing growth. Mexico exports peaked of $X in 2016, and then declined slightly in the following year.

Cobalt Exports by Country from Mexico

In 2017, Canada (X tonnes), Finland (X tonnes), the U.S. (X tonnes), Belgium (X tonnes), Japan (X tonnes), Russia (X tonnes), South Korea (X tonnes), China (X tonnes), Norway (X tonnes), Australia (X tonnes), Zambia (X tonnes) and the UK (X tonnes) were the largest exporters of cobalt in the world, committing X% of total export.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Mexico (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Finland ($X) and the U.S. ($X) were the countries with the highest levels of exports in 2017, together accounting for X% of total exports. China, Norway, Australia, Japan, Zambia, the UK, Belgium, Russia, South Korea and Mexico lagged somewhat behind, together comprising a further X%.

Mexico (+X% per year) recorded the highest growth rate of exports, in terms of the main exporting countriesover the last decade, while the other leaders experienced more modest paces of growth.

Cobalt Export Prices by Country in Mexico

The cobalt export price in Mexico stood at $X per kg in 2017, reducing by -X% against the previous year. Overall, the export price indicated a notable expansion from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the cobalt export price decreased by -X% against 2015 indices. The most prominent rate of growth was recorded in 2015, when it surged by X% year-to-year. In that year, the export prices for cobalt attained their peak level of $X per kg. From 2016 to 2017, growth of the export prices for cobalt failed to regain its momentum.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Australia ($X per kg), while South Korea ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Australia (+X% per year), while the other leaders experienced mixed trends in the export price figures.

Cobalt Imports into Mexico

In 2017, the amount of cobalt imported into Mexico totaled X tonnes, increasing by X% against the previous year. Overall, cobalt imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011, with an increase of X% year-to-year. Over the period under review, the cobalt imports attained its peak figure volume of X tonnes in 2012; however, from 2013 to 2017, it failed to regain its momentum.

In value terms, cobalt imports amounted to $X in 2017. Overall, cobalt imports continue to indicate a relatively flat trend pattern. Over the period under review, the cobalt imports reached its maximum level of $X in 2008; however, from 2009 to 2017, it failed to regain its momentum.

Cobalt Imports by Country into Mexico

China prevails in cobalt imports structure, accounting for X tonnes, which was near X% of total imports in 2017. The U.S. (X tonnes), Japan (X tonnes), the UK (X tonnes) and Finland (X tonnes) followed a long way behind the leaders.

China was also the fastest growing in terms of the cobalt imports, with a CAGR of +X% from 2007 to 2017. At the same time, Finland (+X%), the UK (+X%) and the U.S. (+X%) displayed positive paces of growth. By contrast, Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2017, the share of China decreased by -X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cobalt into Mexico, making up X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by the U.S., with a X% share.

In China, cobalt imports expanded at an average annual rate of +X% over the period from 2007-2017. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-X% per year) and the U.S. (+X% per year).

Cobalt Import Prices by Country in Mexico

In 2017, the cobalt import price in Mexico amounted to $X per kg, coming down by -X% against the previous year. Overall, cobalt import price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2008, when it surged by X% against the previous year. In that year, the import prices for cobalt attained their peak level of $X per kg. From 2009 to 2017, growth of the import prices for cobalt stood at a somewhat lower level.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Japan ($X per kg), while China ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Japan (-X% per year), while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform