United Kingdom: Cobalt Market Overview 2020

Cobalt Market Size in the UK

The revenue of the cobalt market in the UK amounted to $X in 2017, growing by X% against the previous year. Overall, cobalt consumption continues to indicate a moderate drop. The pace of growth appeared the most rapid in 2010, when it surged by X% y-o-y. The UK cobalt consumption peaked of $X in 2008; however, from 2009 to 2017, it failed to regain its momentum.

Cobalt Production in the UK

In 2017, the amount of cobalt produced in the UK amounted to X kg, therefore, remained relatively stable against the previous year. In general, cobalt production continues to indicate a relatively flat trend pattern.

Cobalt Exports in the UK

In 2017, the amount of cobalt exported from the UK stood at X tonnes, rising by X% against the previous year. Overall, the total exports indicated a temperate increase from 2007 to 2017: its volume 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 exports decreased by -X% against 2013 indices. The most prominent rate of growth was recorded in 2013, with an increase of X% y-o-y. In that year, the cobalt exports attained their peak volume of X tonnes. From 2014 to 2017, growth of the cobalt exports stood at a somewhat lower level.

In value terms, cobalt exports stood at $X in 2017. Overall, the total exports indicated a modest increase from 2007 to 2017: its value 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 exports increased by +X% against 2015 indices. The UK exports peaked of $X in 2008; however, from 2009 to 2017, it failed to regain its momentum.

Cobalt Exports by Country in the UK

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) represented the key exporters of cobalt in the world, creating 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 South Korea (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest cobalt markets worldwide were Canada ($X), Finland ($X) and the U.S. ($X), with a combined X% share of total exports. China, Norway, Australia, Japan, Zambia, the UK, Belgium, Russia and South Korea lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Japan (+X% per year) recorded the highest rates of growth with regard to exports, over the last decade, while the other leaders experienced more modest paces of growth.

Cobalt Export Prices by Country in the UK

The cobalt export price in the UK stood at $X per kg in 2017, surging by X% against the previous year. Overall, cobalt export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014, an increase of X% year-to-year. Over the period under review, the export prices for cobalt reached its maximum level of $X per kg in 2011; however, from 2012 to 2017, it stood at a somewhat lower level.

Export prices varied noticeably by the country of destination; 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 in the UK

In 2017, approx. X tonnes of cobalt were imported into the UK; going up by X% against the previous year. In general, the total imports indicated a measured expansion from 2007 to 2017: its volume 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 imports increased by +X% against 2014 indices. The most prominent rate of growth was recorded in 2010, when it surged by X% y-o-y. Over the period under review, the cobalt imports attained its maximum volume in 2017, and are expected to retain its growth in the immediate term.

In value terms, cobalt imports stood at $X in 2017. In general, cobalt imports continue to indicate a measured reduction. Over the period under review, the cobalt imports reached its maximum level of $X in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

Cobalt Imports by Country in the UK

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

From 2007 to 2017, the average annual growth rate of value in China totaled +X%. 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 the UK

In 2017, the cobalt import price in the UK amounted to $X per kg, surging by X% against the previous year. In general, cobalt import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2017, when the import prices increased by X% against the previous year. Over the period under review, the import prices for cobalt reached its maximum level of $X per kg in 2008; however, from 2009 to 2017, it failed to regain its momentum.

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