The Ministry of Industry and Information Technology announces the operation of nickel-cobalt-lithium industry in 2021. Product prices of nickel-cobalt-lithium industry have risen sharply.

In 2021, with the rapid development of China's new energy industry, the nickel-cobalt-lithium industry as a whole shows a prosperous pattern of supply and demand, with a sharp rise in product prices and a significant increase in imports.

First, the output of cobalt and lithium increased over the same period last year. According to relevant statistics, the output of refined cobalt (including electrolytic cobalt, cobalt powder, cobalt salt, etc.) in China in 2021 was 128000 tons, an increase of 26.7 percent over the same period last year; the output of lithium carbonate and lithium hydroxide was 240000 tons and 175000 tons, respectively, up 40.4 percent and 88.6 percent over the same period last year. The output of primary nickel (nickel products produced from raw materials, including electrolytic nickel, nickel-containing pig iron, nickel salts, etc.) was 669000 tons, down 10.1% from the same period last year.

Second, prices have risen sharply. According to relevant statistics, the average spot prices of electrolytic nickel and cobalt in 2021 were 137000 yuan / ton and 363000 yuan / ton respectively, up 25.6% and 40.1% over the same period last year; and the average spot prices of lithium carbonate and lithium hydroxide were 122000 yuan / ton and 113000 yuan / ton respectively, up 177% and 117% over the same period last year.

Third, imports of major products increased compared with the same period last year. According to the General Administration of Customs, nickel ore and electrolytic nickel imported 43.529 million tons and 262000 tons respectively in 2021, up 11.4% and 100% respectively over the same period last year; cobalt concentrate imports 17400 tons, down 64.3% from the same period last year; cobalt wet smelting intermediates and electrolytic cobalt imports 291000 tons and 6424 tons respectively, up 2.8% and 3.4% respectively; and lithium carbonate imports 81000 tons, up 61.7% over the same period last year.