China's lithium carbonate imports fell in October, but could recover in November after a surge in Chile's October exports

According to customs data,In October 2023, China imported 10,762 mt of lithium carbonate, down 21.19% MoM and up 29.88% YoY. From January to October, China imported a total of 121,400 mt lithium carbonate, up 7.59% YoY.

In October, 9,044 mt of lithium carbonate were imported from Chile, accounting for 84.04% of China’s total imports. And from January to October, a total of 105,500 mt of lithium carbonate were imported from Chile, up 4.13% YoY.

And 1,608 mt came from Argentina in October, accounting for 14.94% of the total. From January to October, imports from the country totaled 14,400 mt, up 41.55% YoY.

In October, the two countries accounted for 98.98% of of China’s total lithium carbonate imports.

The average price of lithium carbonate imports in October was $27,535.69/mt, down 13.55% MoM. The average price of lithium carbonate imported from Chile was $27,798.79/mt, down 15.96% MoMversus $26,558/mt from Argentina, down 1.16% MoM.

As the largest source of China’s lithium carbonate imports, Chile's lithium carbonate exports to China increased to 16,791 mt in October, up 7.45% MoM. Considering factors such as shipping cycle, there is a time lag of 1 to 2 months between Chile’s exports and China's imports. As such, China's lithium carbonate imports are expected to increase in November.