[SMM Analysis] Detailed Data on China's Sulphuric Acid Production in August

China's cobalt metal imports stood at around 1,011 mt in August 2026, down 4% MoM but up 134% YoY; exports were around 486 mt, up 55% MoM and up 18% YoY.

According to China Customs data, in August 2026 China's spodumene imports reached 906,600 physical tonnes, up about 22.6% month-on-month from 739,300 tonnes in July, equivalent to about 76,000 tonnes of lithium carbonate equivalent (LCE). The LCE volume rose about 18% month-on-month from 64,200 tonnes LCE the previous month. By source country, major suppliers showed divergent performance: imports from Australia were 326,400 tonnes, down about 5.4% month-on-month, remaining the largest source and accounting for about 36%; imports from South Africa were 222,900 tonnes, up about 104.5% month-on-month, jumping to become the second-largest source; imports from Nigeria were 135,500 tonnes, up about 29.4% month-on-month; imports from Zimbabwe were 74,600 tonnes, surging about 245% month-on-month, with arrival volumes largely in line with expectations due to transport disruptions. Imports from Mali were 64,700 tonnes, up about 68.9% month-on-month; imports from Brazil were 62,000 tonnes, falling sharply by about 46.6% month-on-month, as the earlier concentrated arrival pace of low-grade ore fines slowed. In addition, imports from Canada were about 16,700 tonnes, while sporadic arrivals of smaller volumes came from the UAE, Mozambique, Rwanda, and other places. Overall, although August spodumene imports in physical tonnes hit another new high, because the share of low-grade raw ore was relatively high, the actual incremental lithium salt supply that could be converted from imported ore was relatively moderate.

China's cobalt metal imports stood at around 1,011 mt in August 2026, down 4% MoM but up 134% YoY. By origin, the top three sources were Russia, Indonesia, and Madagascar, with imports of 325 mt, 321 mt, and 51 mt respectively. The price spread between domestic and overseas cobalt metal remained wide in August. However, as some brands of cobalt metal are tied to long-term contracts or operational requirements, material still needed to be shipped to China, which kept imports largely stable without a notable decline. In terms of average import price, China's cobalt metal import average price was $51,752/mt in August 2026, down 12.72% MoM. Cumulative imports in January-August 2026 totaled 9,775 mt, up 115% YoY. On the export side, China's cobalt metal exports were around 486 mt in August 2026, up 55% MoM and up 18% YoY. By destination, the top three were the Netherlands, the US, and India, with exports of 176 mt, 130 mt, and 51 mt respectively. The average export price of cobalt metal was $54,499/mt in August 2026, down 3.55% MoM. Cumulative exports in January-August 2026 totaled 3,462 mt, down 73% YoY.