[SMM Analysis] China's import and export volume of ternary cathode materials decreased synchronously in June. Exports were down 9% MoM, and imports were down 11% MoM.

June Import and Export Overview:

In June 2024, China's import volume of ternary cathode materials (NCM+NCA combined) was 7,680 mt, down 11% MoM, up 1% YoY. Among them, NCM imports were 6,193 mt, down 13% MoM, up 2% YoY; NCA imports were 1,486 mt, down 1% MoM, down 1% YoY. China's export volume of ternary cathode materials (NCM+NCA combined) was 6,262 mt, down 9% MoM, down 25% YoY. Among them, NCM exports totaled 6,028 mt, down 10% MoM, down 24% YoY; NCA exports were 234 mt, up 24% MoM, down 49% YoY.


In June 2024, China's import volume of ternary cathode materials (NCM+NCA combined) was 7,680 mt, down 11% MoM, up 1% YoY. Among them, NCM imports were 6,193 mt, down 13% MoM, up 2% YoY; NCA imports were 1,486 mt, down 1% MoM, down 1% YoY.

SMM Analysis: Although there was an increase of 240 mt in imports from South Korea to Shandong in June, the import volume from South Korea to Jiangsu decreased by 1,300 mt, leading to a significant decline in the overall import volume of ternary cathode materials in June.

In June 2024, China's export volume of ternary cathode materials (NCM+NCA combined) was 6,262 mt, down 9% MoM, down 25% YoY. Among them, NCM exports totaled 6,028 mt, down 10% MoM, down 24% YoY; NCA exports were 234 mt, up 24% MoM, down 49% YoY.

SMM Analysis: The MoM decline in the export volume of ternary cathode materials in June was mainly due to a reduction of nearly 1,000 mt in NCM exports from Sichuan to South Korea.