Greece: Cobalt Market 2022

Cobalt Market Size in Greece

In 2021, after five years of growth, there was decline in the Greek cobalt market, when its value decreased by -1.3% to $X. Overall, consumption posted strong growth. Cobalt consumption peaked at $X in 2020, and then reduced modestly in the following year.

Cobalt Exports

Exports from Greece

Cobalt exports from Greece soared to X tons in 2021, picking up by 83% on the previous year's figure. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2015 with an increase of 321%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, cobalt exports skyrocketed to $X in 2021. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 295%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X kg), the Czech Republic (X kg) and Bulgaria (X kg) were the main destinations of cobalt exports from Greece, with a combined 75% share of total exports. Turkey, Cyprus, Italy and India lagged somewhat behind, together comprising a further 25%.

From 2014 to 2021, the biggest increases were in Cyprus (with a CAGR of +71.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cobalt exported from Greece were the Czech Republic ($X), the United Arab Emirates ($X) and Bulgaria ($X), together comprising 81% of total exports. Turkey, Cyprus, Italy and India lagged somewhat behind, together comprising a further 19%.

Among the main countries of destination, Cyprus, with a CAGR of +41.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cobalt export price stood at $X per ton in 2021, waning by -9.3% against the previous year. Overall, the export price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 an increase of 22%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+2.3%), while the prices for the other major destinations experienced mixed trend patterns.

Cobalt Imports

Imports into Greece

In 2021, cobalt imports into Greece surged to X tons, with an increase of 25% on the year before. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 159%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, cobalt imports dropped modestly to $X in 2021. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 156%. Imports peaked at $X in 2020, and then dropped slightly in the following year.

Imports by Country

Germany (X tons), Italy (X tons) and France (X kg) were the main suppliers of cobalt imports to Greece, with a combined 61% share of total imports. The UK, Lithuania, the Netherlands, China and Belgium lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +77.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cobalt suppliers to Greece were Germany ($X), the UK ($X) and France ($X), together comprising 65% of total imports. China, Italy, the Netherlands, Belgium and Lithuania lagged somewhat behind, together comprising a further 25%.

China, with a CAGR of +54.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cobalt import price amounted to $X per ton, which is down by -23.7% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cobalt import price decreased by -36.7% against 2016 indices. The pace of growth was the most pronounced in 2016 an increase of 39% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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