[SMM Analysis] July Ternary Cathode Materials Import and Export Volumes Decreased YoY; Exports Down 1% MoM, Imports Down 29% MoM.

July Imports:
In July 2024, China imported 7,595 mt of ternary cathode materials (NCM+NCA combined), down 1% MoM and 19% YoY. Among them, NCM imports were 7,342 mt, up 19% MoM and down 6% YoY; NCA imports were 254 mt, down 83% MoM and 84% YoY.

SMM Analysis: The increase in NCM imports in July mainly came from Xinjiang and Sichuan regions, with Xinjiang importing 2,637 mt and Sichuan importing 1,927 mt. Jiangsu only imported 1,626 mt in July, about 2,000 mt less than the previous month. The significant decrease in NCA imports in July was mainly due to the suspension of NCA imports in Tianjin, with only Guizhou importing 252 mt of NCA.

July Exports:
In July 2024, China's exports of ternary cathode materials (NCM+NCA combined) totaled 4,431 mt, down 29% MoM and 44% YoY. Specifically, NCM exports totaled 3,839 mt, down 36% MoM and 50% YoY, while NCA exports reached 592 mt, up 153% MoM and 106% YoY.

SMM Analysis: The significant MoM decrease in July's ternary cathode material exports was mainly due to weaker NCM exports, with a total reduction of over 2,700 mt to countries like Poland, Japan, and Indonesia. However, NCM exports to South Korea increased by over 1,000 mt compared to June. In terms of NCA exports, July 2024 saw the first occurrence of 592 mt exported to South Korea, while NCA exports to Taiwan disappeared.