[SMM Analysis] Analysis of China's Export Data of Ternary Cathode Precursors

SMM July 23:

In June 2024, China's ternary cathode precursor exports reached 21,087 mt, up 22% MoM, down 2% YoY.

From January to June 2024, China's cumulative ternary cathode precursor exports totaled 109,413 mt (including NCA), down 12% YoY.

In June, the overall export volume of ternary cathode precursors saw a slight increase compared to May, with NCM and NC exports rising, particularly NC. In June, NC exports totaled 7,337 mt, up 158% MoM, up 95% YoY; NCM exports totaled 13,715 mt, up 2% MoM, down 19% YoY. Additionally, NCA exports in June were 35 mt.

By country, in June, NC exports to South Korea accounted for 97%, with the volume rising significantly from 2,675 mt last month to 7,110 mt; NCM exports to South Korea increased from 13,423 mt last month to 13,707 mt, still occupying nearly 100% of the volume.

By exporting province, in June 2024, NC exports totaled 7,337 mt, with Guizhou exporting 3,696 mt (50%) and Jiangsu exporting 2,821 mt (38%). The main growth this month came from these two provinces.

For NCM, in June, total NCM exports were 13,715 mt, with Zhejiang exporting 7,222 mt (53%). Hunan's export volume decreased, with its share dropping from 15% to 10%.