Price for Cobalt Ores and Concentrates in Australia - 2023

Price for Cobalt Ores and Concentrates in Australia (FOB) - 2022

In 2022, the average cobalt ores and concentrates export price amounted to $9,291 per ton, shrinking by -22.6% against the previous year. Over the period under review, the export price showed a perceptible downturn. The growth pace was the most rapid in 2014 an increase of 265%. The export price peaked at $43,915 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +1.7% per year.

Price for Cobalt Ores and Concentrates in Australia (CIF) - 2022

In 2022, the average cobalt ores and concentrates import price amounted to $6,514 per ton, with a decrease of -19.8% against the previous year. Over the period under review, the import price saw a abrupt decline. The growth pace was the most rapid in 2017 an increase of 89% against the previous year. As a result, import price reached the peak level of $23,916 per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($11,877 per ton), while the price for Zambia ($2,887 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (-0.1%), while the prices for the other major suppliers experienced a decline.

Exports of Cobalt Ores and Concentrates in Australia

In 2022, approx. 8.2 tons of cobalt ores and concentrateses were exported from Australia; with an increase of 8% against the previous year's figure. Overall, exports showed significant growth. The growth pace was the most rapid in 2021 with an increase of 211%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, cobalt ores and concentrates exports shrank significantly to $76K in 2022. Over the period under review, exports, however, recorded a dramatic slump. The growth pace was the most rapid in 2021 with an increase of 69%.

Export of Cobalt Ores and Concentrates in Australia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	125	48.8	43.6	76.3	-15.2%
China	1.6	1.2	0.6	N/A	-38.8%
New Zealand	37.3	3.6	2.9	N/A	-72.1%
Others	0.1	0.3	44.1	N/A	2000.0%
Total	164	53.9	91.2	76.3	-22.5%

Top Export Markets for Cobalt Ores and Concentrates from Australia in 2022:

Malaysia (8.2 tons)

Imports of Cobalt Ores and Concentrates in Australia

In 2022, approx. 76 kg of cobalt ores and concentrateses were imported into Australia; waning by -37.7% against the previous year's figure. Over the period under review, imports showed a dramatic decrease.

In value terms, cobalt ores and concentrates imports dropped notably to $498 in 2022. In general, imports continue to indicate a precipitous setback.