China's Lithium Carbonate Import and Export Data in November

[SMM analysis: The high abroad and low domestic aluminium prices drove the export volume of domestic unwrought aluminium and aluminium semis increasing significantly YoY in March] Since August 2021, China's unwrought aluminium and aluminium semis exports have increased significantly YoY, and reached a record high in the first quarter of this year. According to the short-term forecast, aluminium prices at home and abroad will fell in April, but the pattern of high abroad aluminium prices and low domestic aluminium prices will remain, and the domestic aluminium exports will remain high. However, since March, the domestic pandemic interfered with the operation and transportation of domestic aluminium processing enterprises, and ports in Shanghai and other regions were severely blocked.

[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.

According to SMM Prices, intraday domestic battery-grade lithium carbonate prices stood between 368,000-376,000 yuan/mt, an average of 372,000 yuan/mt, up 8,000 yuan/mt or 2.2% from yesterday.

China exported 5,973 mt of lithium hydroxide in November, a month-on-month decrease of 4%, but year-on-year increase of 13%. Among them, South Korea imported 3,245 mt, down 22% month-on-month, and Japan imported 2,633 mt, up 31% on the month.

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%.

Ganfeng Lithium (002460) announced that it intends to acquire 8.58% equity interest in Litio from International Lithium Corp. ("International Lithium") to through its wholly-owned subsidy Ganfeng Lithium Netherlands CO., B.V. (“Ganfeng Lithium Netherlands”).

China’s total exports of wrought manganese, manganese products, unwrought manganese and scrap materials and powder stood at 51,958.18 mt in June, up 70.96% month on month and 101.96% year on year, according to SMM statistics.

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.