Price for Cobalt Ores and Concentrates in Sri Lanka - 2022

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

The average cobalt ores and concentrates import price stood at $6,438 per ton in 2022, declining by -2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2015 an increase of 55% against the previous year. As a result, import price reached the peak level of $7,487 per ton. From 2016 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +6.2% per year.

Imports of Cobalt Ores and Concentrates in Sri Lanka

For the fourth consecutive year, Sri Lanka recorded growth in supplies from abroad of cobalt ores and concentrateses, which increased by 6.7% to 16 kg in 2022. The total import volume increased at an average annual rate of +4.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 7.1%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, cobalt ores and concentrates imports rose slightly to $103 in 2022. The total import value increased at an average annual rate of +4.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 5.3%. Imports peaked in 2022 and are likely to continue growth in the immediate term.