SHANGHAI, Sep 30 (SMM) – China imported some 123,000 mt in physical content of spodumene concentrate in August, down 21.5% from a month ago, with the average import prices dipping 0.8% on the month to $630/mt, the latest customs data showed.
No seaborne spodumene raw ore entered China last month.
China's major lithium compounds producer Ganfeng Lithium remained the top importer of spodumene concentrate in August, as it took some 3,800 mt lithium carbonate equivalent (LCE) from overseas, which was used to produce lithium salts.
The average import price of the company remained the cheapest among that of other major importers, standing at $533.4/mt cif, given its imports of 7,300 mt in physical content of concentrate with a grade of only 3.8% at a price of $310.9/mt cif.
In China’s physical market, prices of spodumene concentrate are expected to move lower with prices of lithium salts given high inventories of the raw material.
An SMM survey indicated that oversupply in the spot market kept weighing on psychological price levels of buyers and resulted in thin trades.
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