China's Lithium Hydroxide Import and Export Overview in November

[SMM analysis: Why did iron ore imports decline sharply in the peak season in March? It is expected to increase obviously in April.] According to the data from the General Administration of customs, China imported 87.283 million mt of iron ore and concentrate in March 2022, a month-on-month increase of 1.56% and a year-on-year decrease of 14.52%. From January to March 2022, the iron ore and concentrate imports totalled 268.36 million mt, a year-on-year decrease of 5.2%. March is the traditional peak season of steel production. However, China’s iron ore demand has decreased significantly due to multiple factors.

[General Administration of Customs: From January to March 2022, the import of steel decreased by 13.4% YoY and the exports decreased by 25.5% YoY] The General Administration of Customs released the Import and Export Value of Key Commodities in March on April 13. It showed that in terms of export, the exports of steel in March was 4.945 million mt, and the cumulative export volume from January to march was 13.179 million mt, a decrease of 25.5% year-on-year. The exports of unwrought aluminium and aluminium in March were 594,400 mt, and the cumulative exports from January to March was 1.6283 million mt，up 26.7% year-on-year.

SMM data shows that the domestic spot quotations for battery-grade lithium carbonate stood at 460,000-468,000 yuan/mt as of February 25, with the average price at 464,000 yuan/mt, up 2,000 yuan/mt.

The five-year compound growth rate of global lithium carbonate smelting capacity is expected to stand at about 20.5% while the five-year compound growth rate of global lithium hydroxide smelting capacity is estimated to be 34.3%.

In the early morning of October 5, Chengxin Lithium sent its first batch of overseas project team in 2021 to the Indonesia Morowali Industrial Park (IMIP).

Hainan Mining announced on August 23 that the company plans to construct a 20,000 mt battery-grade lithium hydroxide project (Phase I) with the investment no more than 1.06 billion yuan.

Sinomine Resource Group has recently put its 25,000 mt/year battery-grade lithium hydroxide and lithium carbonate project in trial production.

According to customs data, China's rare earth exports stood at 4,837.1 mt in March, up 36.9% month on month, and the average export price was $12.05/kg, up 8%.

China's aluminium extrusion exports in March 2021 were 58,000 mt, down 2% month-on-month and 22% year-on-year, latest customs data show.

It was reported last Wednesday that a giant container ship ran aground on the Suez Canal, causing two-way traffic on one of the world’s busiest maritime trade routes to be blocked. As an important international waterway, the Suez Canal connects the Mediterranean Sea and the Red Sea, providing the closest route from Europe to the land around the Indian Ocean and the Western Pacific. According to statistics, 20% of the world's total maritime cargo volume, 80% of the cargo volume between European and Asian countries, and 25% of the world's oil tankers pass through the Suez Canal. Therefore, the Canal is of significant importance to the shipping between China and Europe.