Higher import tariffs to have little impact on Chinese lithium, cobalt markets-Shanghai Metals Market

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Higher import tariffs to have little impact on Chinese lithium, cobalt markets

SMM Insight 02:27:03PM May 15, 2019 Source:SMM

SHANGHAI, May 15 (SMM) – US lithium and cobalt salts entering China will be subject to additional tariffs on June 1, but this is likely to have minimal impact as China imports little such products from the US. 

Domestic supply of cobalt raw materials are largely reliant on imports from South Africa, and lithium raw materials supply in China is dependent on cargoes from Australia, Brazil, and Africa. 

All the imports of lithium carbonate originated from South Africa, and China barely imported lithium hydroxide from other counties, SMM learned from customs data. 

Manufactures of new energy vehicles mostly procured power batteries from domestic producers. They seldom purchased lithium batteries from the US, preferring foreign suppliers in Japan and South Korea, SMM learned.  

China said on May 13 it will set import tariffs ranging from 5% to 25% on a list of US products worth about $60 billion, in response to higher tariffs by the Trump administration. 

Key Words:  Market commentary  Trade war  Lithium  Cobalt 

Higher import tariffs to have little impact on Chinese lithium, cobalt markets

SMM Insight 02:27:03PM May 15, 2019 Source:SMM

SHANGHAI, May 15 (SMM) – US lithium and cobalt salts entering China will be subject to additional tariffs on June 1, but this is likely to have minimal impact as China imports little such products from the US. 

Domestic supply of cobalt raw materials are largely reliant on imports from South Africa, and lithium raw materials supply in China is dependent on cargoes from Australia, Brazil, and Africa. 

All the imports of lithium carbonate originated from South Africa, and China barely imported lithium hydroxide from other counties, SMM learned from customs data. 

Manufactures of new energy vehicles mostly procured power batteries from domestic producers. They seldom purchased lithium batteries from the US, preferring foreign suppliers in Japan and South Korea, SMM learned.  

China said on May 13 it will set import tariffs ranging from 5% to 25% on a list of US products worth about $60 billion, in response to higher tariffs by the Trump administration. 

Key Words:  Market commentary  Trade war  Lithium  Cobalt