[SMM Analysis: Terminal destocking in progress, October ternary materials imports and exports both significantly decrease month-on-month]

On the import side, in October 2023, China imported 8,048 tons of ternary materials (NCM+NCA total value), a decrease of 33% compared to September, and an increase of 7% compared to the same period last year. Among them, the import volume of NCM ternary materials was 7,041 tons, a decrease of 33% compared to September, and an increase of 9% year-on-year; the import volume of NCA ternary materials was 1,007 tons, a decrease of 32% compared to September, and a decrease of 6% year-on-year.

On the export side, in October 2023, the export of ternary materials (NCM+NCA total value) was 4,085 tons, a decrease of 42% compared to September, and a 65% decrease year-on-year. Among them, the export volume of NCM ternary materials was 3,653 tons, a 42% decrease compared to September, and a 66% decrease year-on-year; the export volume of NCA ternary materials was 431 tons, a 44% decrease compared to September, and a 44% decrease year-on-year.