Cobalt: mattes and other intermediate products of cobalt metallurgy, unwrought cobalt, powders

In 2024, cobalt: mattes and other intermediate products of cobalt metallurgy, unwrought cobalt, powders trade exhibited strong growth, with global flows reaching $4,539,518,492 and a three-year compound annual growth rate of -12.1% (five-year: +3.2%). The all-time peak of $8,712,944,251 was recorded in 2022; the current level is 48% below that high-water mark.

Over the 30-year observation window (1995–2024), 59% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is decelerating (-19.4% acceleration).

The supply side is concentrated (Herfindahl-Hirschman Index 0.437). The three largest exporters — DR Congo ($3.2B), Canada ($238.5M), and China ($212.0M) — collectively dominate supply flows. The leading exporter has grown at -11.3% over the last three years.

On the demand side, importer concentration is concentrated (HHI 0.473). The three largest import markets are China ($3.1B), United States ($273.3M), and Netherlands ($160.4M). The largest importing market sources from 33 different supplying countries.

The dominant trade corridor is DR Congo → China at $2.9B, representing 95.0% of the importer's total demand.

The volatility score for cobalt: mattes and other intermediate products of cobalt metallurgy, unwrought cobalt, powders is 35 out of 100, classified as low. Trade flows are moderately variable, typical for goods with seasonal or cyclical demand patterns.

For market entrants, strong demand tailwinds create a favourable entry environment. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.