[SMM Analysis] China's ternary cathode imports and exports in April were released, with imports up 37% WoW and exports up 13% WoW

Published: May 20, 2025 16:10

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In April 2025, China's imports of ternary cathode material (combined value of NCM + NCA) reached 6,158 mt, up 36.73% MoM and down 17.58% YoY.

Imports in April

In April 2025, China's imports of ternary cathode materials (combined value of NCM + NCA) reached 6,158 mt, up 36.73% MoM and down 17.58% YoY. Among them, NCM imports were 5,170 mt, up 28.48% MoM and down 16.21% YoY; NCA imports were 988 mt, up 105.94% MoM and down 24.07% YoY.

Exports in April

In April 2025, China's exports of ternary cathode materials (combined value of NCM + NCA) reached 9,356 mt, up 13% MoM and up 30% YoY. Among them, cumulative NCM exports were 9,058 mt, up 11.31% MoM and up 30.86% YoY. The recovery in overseas demand was mainly reflected in South Korea, Japan, and Poland. In April, exports to South Korea were 4,725 mt, up 104 mt MoM; exports to Japan were 1,016 mt, up 349 mt MoM; and exports to Poland were 1,539 mt, up 349 mt MoM. NCA exports were 298 mt, up 90.29% MoM and down 0.71% YoY.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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