[SMM Analysis] Lithium Concentrate Imports in December Were Approximately 480,000 mt, Basically Flat MoM

  According to data from the General Administration of Customs, China's lithium concentrates imports in December 2024 were approximately 482,300 mt, equivalent to about 4.7 mt of LCE. The physical tonnage was basically flat MoM.

Among these, lithium concentrates imported from Australia were about 3.03 million mt, accounting for 63% of China's total lithium concentrates imports; imports from Zimbabwe were about 940,000 mt, accounting for 19%; imports from Brazil were about 380,000 mt, accounting for 8%; and imports from Canada were about 270,000 mt, accounting for 6%.

On a MoM basis, the decrease in December imports was mainly due to significant reductions in lithium ore arrivals from Nigeria and Zimbabwe, which decreased by 41% and 12% MoM, respectively. In contrast, imports from Canada saw a significant increase, growing more than eightfold MoM.

Recently, lithium concentrates imports have remained high, primarily driven by relatively high operating rates in the smelting sector during Q4 2024, which translated into strong demand for lithium ore. Based on December-January order negotiations and the continued release of supply from some regions in Africa, lithium ore port arrivals are expected to remain at high levels in January-February 2025.

Additionally, in December, raw ore imports from South Africa were approximately 960,000 mt, up 86% MoM from November, showing a significant increase.

Data source: China Customs, SMM processed data based on public information.

Note: Customs data may not fully and accurately reflect the actual monthly imports of spodumene concentrates. This summary is provided as a general directional report on import volumes.