HS Code:
Cobalt mattes and other intermediate products of cobalt metallurgy; unwrought cobalt; powders (HS Code: 8105) encompass raw and semi-processed forms of cobalt, a critical metal used primarily in the production of batteries, superalloys, and catalysts. Cobalt is essential for lithium-ion batteries, which power electric vehicles (EVs) and renewable energy storage systems. This category includes cobalt mattes (an intermediate product from smelting), unwrought cobalt (refined but not worked into final forms), and cobalt powders used in various industrial applications. Global trade in this category is driven by the rising demand for sustainable energy solutions and advanced technology.
Total Trade Volume
USD 3.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.5 billion
46.9% of total trade of total trade
Increasing
USD 800 million
25.0% of total trade of total trade
Increasing
USD 300 million
9.4% of total trade of total trade
Stable
USD 200 million
6.3% of total trade of total trade
Increasing
USD 150 million
4.7% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Surge in demand for cobalt due to EV battery production
Increased trade volumes and prices as manufacturers secure supply chains for lithium-ion batteries
2021-2023
Shift towards ethical sourcing and sustainability
Growing scrutiny on mining practices in the DRC, leading to certifications and traceability initiatives
2020-2023
Diversification of supply chains
Countries like Australia and Canada are increasing production to reduce reliance on DRC cobalt
2022-2023
The Democratic Republic of Congo introduced a new export tax regime to capture more revenue from cobalt exports, aiming to fund infrastructure projects.
January 2023
Potential increase in global cobalt prices and supply chain disruptions for battery manufacturers
The European Union launched a partnership with producing countries to ensure sustainable and ethical cobalt sourcing for its green energy transition.
September 2022
Encourages transparency in trade and may influence tariff structures under sustainability clauses
China announced investments in new cobalt refining facilities to meet domestic demand for EV battery production.
March 2023
Strengthens China’s position as a key player in cobalt processing, potentially affecting global trade flows