China's Lithium Carbonate Import and Export Data 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.

According to SMM research, Mt Cattlin has announced its prices of long-term orders of 2022Q2 lithium concentrate at $5,000/mt.

On December 22, 2021 in Argentina, Tibet Summit Resources officially started the construction of its lithium carbonate salt lake project with the capacity of 50,000 mt/year.

The global lithium resources will present a supply deficit of 9%-12% in 2021-2022, and the users have to rely on raw material inventory due to the raw material shortages.

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.

Lithium carbonate stocks rose 1,455 mt in March, which accounted for about 8.3% of the supply.

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.

China imported 6,600 mt (Co content) of cobalt raw materials in January 2021, down 28% on the month, but up 2% on the year, customs data showed. In February, imports stood at 6,400 mt (Co content), down 3% from January, but up 24% from a year ago. Imports totalled 12,900 mt (Co content) in the two months, up 12% from the same period last year.