Japanese Cobalt Imports Increase 10 Percent on Battery Sector Demand

Metal Bulletin reported that Japan is importing increased amounts of cobalt due to higher demand from the country’s energy sector. Imports have risen 10 percent this year.

As quoted in the publication:

Japanese imports of unwrought cobalt reached 6,626 tonnes in the January-August period of 2014, official customs data shows. Most of the imports came from Finland and Canada, suggesting that the volumes of metal and powder coming from miners like Sherritt and Freeport Cobalt have grown. Imports from Finland were up 39% to 3,237 tonnes, while imports from Canada were up 11%, at 1,013 tonnes. Imports from Zambia were also higher, up 11% at 605 tonnes.  The increased imports, sources said, are the result of higher demand, particularly from the battery sector. ‘Japan is really on fire. It’s partly related to the yen, and partly technological advances and the battery sector,’ one source told Metal Bulletin.

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