Is the proxy business of cobalt oxide more profitable than Maotai? Revealing the black market of blue gold

When Mr. Zhang first heard the term "cobalt oxide", he thought it was just a certain chemical reagent in the laboratory. It was not until he witnessed this batch of blue powder with a metallic luster and marked as "worth more than 200,000 yuan per ton" on the customs declaration form that he realized that he was standing at the most hidden wealth tuyere of the new energy industry chain.

As the core component of the cathode material for lithium-ion batteries, the export volume of cobalt oxide has soared in recent years. According to the data of Guangzhou Customs, the export volume of cobalt oxide in the first quarter of 2023 increased by 37% year-on-year, among which South Korea, Japan, and Germany became the main purchasing countries. This seemingly ordinary chemical raw material actually determines the lifeblood of the global electric vehicle industry.

• High-end application: The cobalt content in ternary lithium batteries reaches 20%
• Price fluctuations: The highest increase rate of international cobalt prices in 2022 reached 130%
• Transport requirements: Requires UN3077 dangerous goods packaging certification

Ms. Li's agency company once had a batch of goods returned at the Port of Rotterdam due to ignoring a certain detail. The export of cobalt oxide is far more complicated than ordinary chemical products:

• Document Maze: It is necessary to prepare MSDS, certificate of origin, and dangerous goods transportation identification report at the same time
• Transport Traps: Ocean transportation needs to comply with the regulations of Class 6.1 dangerous goods of the IMDG CODE
• Tax Reefs: Different cobalt contents correspond to HS codes ranging from 28220000 to 81052000

A customer urgently exported 5 tons of cobalt oxide to the Port of Hamburg. The Zhongshitong team's original "Trinity" solution:

• Pre-audit in advance: Pre-submit the electronic basic account through the direct connection system between customs and enterprises
• Dynamic Monitoring: Use the preferential inspection privilege of AEO advanced certified enterprises
• Risk Hedging: Lock the LME cobalt futures price to avoid exchange rate fluctuations

Finally, the goods only took 52 hours from declaration to release, which was 60% shorter than the industry average time.

With the EU's Critical Raw Materials Act including cobalt in the strategic materials list, export compliance is gradually changing from a cost item to a competitive advantage. When the reader sees this, another 3 tons of cobalt oxide are crossing the Malacca Strait around the world. You are welcome to share in the comment area: Have you encountered unexpected "cobalt" puzzles in the import and export of new energy materials in your enterprise?