Chinese lithium hydroxide exports declined 23.7% year-on-year in October, with the average exporting price collapsing 70%, Kallanish reports.

The Asian giant shipped 7,831 tonnes of the battery raw material, a volume that is also 38% lower than in September. The value of these exports reached $99 million, which is 77% less than in the same period last year.

The average price dropped 70% y-o-y to $12,604/tonne, according to customs data.

South Korea, Japan, Germany, India and Taiwan, China were the top five importers of lithium hydroxide from China. Battery manufacturing powerhouses South Korea and Japan took the bulk of shipments at 5,771 t and 1,696 t, respectively.

The data shows South Korean battery makers accounted for nearly 74% of all lithium hydroxide exports from China, while Japan had a market share of 21.6%.

Meanwhile, Chinese companies imported 492 tonnes of lithium hydroxide, representing an 86% on-year increase.  

The imports amounted to $7.9 million, an on-year increase of 40.4% and an on-month drop of 54.33%. Yet, the average price of imports reached $16,102/t, which is 24.6% lower than in October 2023. It’s also over 35% cheaper than in September.

Australia, the US and South Korea were the top three product sources, accounting for 44%, 35.6% and 20.3% respectively. Their average import prices are $8,726/t, $29,776/t and $8,100/t.