Lithium carbonate imports in January and February 2024 are both lower than the single-month average in 2023, and imports in March are expected to increase

SMM News on March 20th:

In January 2024, China imported 10,404 tons of lithium carbonate, which was -48.8% MoM and -13.9% YoY. Among them, 6,012 tons and 4,124 tons of lithium carbonate were imported from Chile and Argentina respectively, accounting for 58% and 40% of January imports respectively. The proportion of lithium carbonate imported from Chile was the lowest in a single month since 2022.

In February 2024, China imported 11,590 tons of lithium carbonate, 11.4% MoM, and 11.5% YoY. In January and February, China imported approximately 21,994 tons of lithium carbonate, with a cumulative YoY increase of 2.1%. Among them, approximately 8,964 tons from Chile and 2,476 tons from Argentina, accounting for 77% and 21% of February imports respectively. Imported lithium carbonate in January and February were both lower than the monthly average of 13,229 tons in 2023, which may be related to the previous downturn in the domestic lithium carbonate market and disturbances caused by the Spring Festival.

As Chile's exports of lithium carbonate to China increased by 38% to 16,059 tons in February 2024, taking into account customs clearance and shipping cycle factors, it is expected that China's imports of lithium carbonate will increase simultaneously in March, supplying the domestic spot market.

For more information, please contact: cathycai@smm.cn