[SMM Analysis] The customs import volume of domestic lithium concentrate in May 2024 was released

According to data from the General Administration of Customs, in May 2024, China imported approximately 565,871 mt in physical content of lithium concentrate (equivalent to about 70,734 mt of LCE), up 28.2% MoM.

Among these, approximately 389,710 mt in physical content of lithium concentrate were imported from Australia, accounting for 68.9% of China's total lithium concentrate imports; approximately 100,522 mt in physical content were imported from Zimbabwe, accounting for 17.8%; approximately 41,466 mt in physical content were imported from Nigeria, accounting for 7.3%; approximately 14,577 mt in physical content were imported from Brazil, accounting for 2.6%; approximately 18,835 mt in physical content were imported from Canada, accounting for 3.3%; and approximately 761 mt in physical content were imported from Rwanda, accounting for 0.1%.

By country, Australia maintained a strong position, with the proportion of lithium concentrate imported from Australia increasing from 58% in April to 69% in May.

Previously, part of the 51,550 mt in physical content of lithium concentrate exported from Port Hedland in Australia to China had already arrived. It is expected that China's lithium concentrate imports will remain high in June.