China’s lithium carbonate imports surged both MoM and YoY in November, and to remain high in December

According to China Customs, in November 2023, China imported about 17,040.7 mt of lithium carbonate, up 58.33% MoM and 37.3% YoY. From January to November, imports totalled 138,413.1 mt, up 10.54% YoY. In terms of import sources, about 15,918.2 mt were imported from Chile in November, up 76% MoM and 40.92% YoY, accounting for 93.41% of the total imports. Additionally, 908 mt were from Argentina, down 43.53% MoM and 6.59% YoY.

The average import price in November was about $24,823.2/mt, down 9.85% MoM. Specifically, the average price of lithium carbonate imported from Chile was about $24,490.8/mt, down 11.9% MoM and that of Argentina was $32,031.9/mt, up 20.61% MoM.

Chile exported about 13,592 mt of lithium carbonate to China in November, down19.05% MoM, but it was still 19% higher than the average monthly export volume of 11,413 mt to China during the year. Therefore, it is expected that domestic lithium carbonate imports in December is likely to remain high, serving as effective supplement to domestic supply.