[SMM Analysis] October 2024 Lithium Concentrate Imports Reached 504,362 mt, Up Approximately 34% MoM

According to data from the General Administration of Customs, China's lithium concentrate imports in October 2024 were approximately 504,362 mt, equivalent to about 49,006 mt of LCE, with a physical tonnage increase of 33.74% MoM.

Among these, imports from Australia were about 363,603 mt, accounting for 72.09% of China's total lithium concentrate imports; imports from Zimbabwe were about 52,873 mt, accounting for 10.48%; imports from Nigeria were about 42,017 mt, accounting for 8.33%; imports from Brazil were about 8,814 mt, accounting for 1.75%; imports from Canada were about 36,672 mt, accounting for 7.27%; and imports from Rwanda were about 382.46 mt, accounting for 0.08%.

On a MoM basis, the increase in October's concentrate imports mainly came from Australia and Canada, with import volumes up 74.71% and 107.48% MoM, respectively. In contrast, lithium concentrate imports from Zimbabwe and Brazil significantly decreased, down 34.50% and 71.94% MoM.

Additionally, it is worth noting that in October, 50,600 mt of lithium ore were imported from South Africa at an average price of $181/mt, down 67.56% MoM; and 11,500 mt of lithium ore were imported from Nigeria at an average price of $170/mt, down 9.45% MoM. These were not included in the lithium concentrate statistics due to their lower prices.