SADC: Cobalt Ore Market 2024

Cobalt Ore Market Size in SADC

The SADC cobalt ore market declined to $X in 2022, which is down by X% against the previous year. In general, consumption recorded a slight reduction. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cobalt Ore Production in SADC

In value terms, cobalt ore production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Cobalt Ore Exports

Exports in SADC

In 2022, the amount of cobalt ores exported in SADC declined sharply to X tons, with a decrease of X% compared with the previous year. Over the period under review, exports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, cobalt ore exports reduced notably to $X in 2022. Overall, exports saw a precipitous decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. South Africa (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cobalt ore exports from Democratic Republic of the Congo stood at X%. South Africa (X%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Democratic Republic of the Congo ($X) remains the largest cobalt ore supplier in SADC, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports.

In Democratic Republic of the Congo, cobalt ore exports shrank by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Democratic Republic of the Congo stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Cobalt Ore Imports

Imports in SADC

In 2022, purchases abroad of cobalt ores decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports saw a dramatic decline. The pace of growth was the most pronounced in 2017 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, cobalt ore imports dropped remarkably to $X in 2022. In general, imports faced a precipitous slump. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Zambia (X tons) represented the key importer of cobalt ores, generating X% of total imports. South Africa (X tons) held the second position in the ranking, distantly followed by Namibia (X tons). All these countries together held near X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cobalt ore imports into Zambia stood at X%. At the same time, Namibia (X%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2022. By contrast, South Africa (X%) illustrated a downward trend over the same period. South Africa (X p.p.) and Namibia (X p.p.) significantly strengthened its position in terms of the total imports, while Zambia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Zambia ($X) constitutes the largest market for imported cobalt ores in SADC, comprising X% of total imports. The second position in the ranking was taken by South Africa ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Zambia stood at X%. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Namibia (X% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Namibia ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Namibia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform