South Africa: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in South Africa

In 2021, the South African cobalt oxides and hydroxides market decreased by -5.9% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption recorded a slight shrinkage. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in South Africa

In value terms, cobalt oxides and hydroxides production shrank modestly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from South Africa

In 2021, exports of cobalt oxides and hydroxides and commercial cobalt oxides from South Africa surged to X tons, increasing by 166% compared with the previous year's figure. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 5,200%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 6,916%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for cobalt oxides and hydroxides exports from South Africa, accounting for a 64% share of total exports. Moreover, cobalt oxides and hydroxides exports to China exceeded the volume sent to the second major destination, Brazil (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-26.8% per year) and Australia (+19.7% per year).

In value terms, China ($X) emerged as the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from South Africa, comprising 68% of total exports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-27.6% per year) and Australia (+16.6% per year).

Export Prices by Country

In 2021, the average cobalt oxides and hydroxides export price amounted to $X per ton, jumping by 34% against the previous year. Overall, the export price, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2014 an increase of 139% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+17.1%), while the prices for the other major destinations experienced a decline.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into South Africa

Cobalt oxides and hydroxides imports into South Africa surged to X tons in 2021, picking up by 247% compared with the previous year's figure. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 4,308% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, cobalt oxides and hydroxides imports skyrocketed to $X in 2021. Overall, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2016 when imports increased by 2,552%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Democratic Republic of the Congo (X tons) was the main supplier of cobalt oxides and hydroxides to South Africa, accounting for a 99% share of total imports. It was followed by China (X kg), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Democratic Republic of the Congo totaled +249.7%.

In value terms, Democratic Republic of the Congo ($X) constituted the largest supplier of cobalt oxides and hydroxides and commercial cobalt oxides to South Africa, comprising 93% of total imports. The second position in the ranking was held by China ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Democratic Republic of the Congo stood at +340.4%.

Import Prices by Country

The average cobalt oxides and hydroxides import price stood at $X per ton in 2021, with a decrease of -59% against the previous year. Overall, the import price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2018 an increase of 849%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Democratic Republic of the Congo totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zambia (+47.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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