Analysis of spodumene imports in June

Against the backdrop of rapid development in the global new energy industry, lithium resources as a core raw material for power batteries have drawn significant attention to their supply-demand dynamics. In June 2025, China's spodumene imports slightly declined by 4.8% to 605,000 tonnes, the regional distribution underwent notable adjustments. Meanwhile, the average import price dropped by 17.72%, influenced by lower-priced raw ores, reflecting the market's increasing sensitivity to costs.

I. China spodumene Imports

China's spodumene imports in June reached 605,000 tonnes, down 4.8% MoM. The imports included 255,500 tonnes from Australia, down 31.2% MoM, 98,000 tonnes from South Africa, up 86.7% MoM, 100,600 tonnes from Zimbabwe, up 3.3% MoM and 78,600 tonnes from Nigeria, up 21.5% MoM.

From January to June, China's total spodumene imports amounted to 3.496 million tonnes, covering 1.806 million tonnes from Australia, 493,000 tonnes from South Africa and 513,000 tonnes from Zimbabwe.

China's spodumene imports saw a modest decline in June, primarily due to reduced shipments from Australia being partially offset by increased volumes from South Africa and Nigeria. It includes stable production ramp-up at major Chinese-backed lithium projects in Zimbabwe (Arcadia, Bikita, Sabi Star, Kamativi) and continuous output expansion at South Africa's DMCC mine. Meanwhile, the local ore trading in Nigeria's market was active. Notably, Africa's three main suppliers (Nigeria, Zimbabwe, South Africa) collectively accounted for 48% of total imports, 2% higher than Australia's share. This shift indicates Chinese producers are gradually reducing their reliance on Australian spodumene.

II.The Average Import Price

In June 2025, the average import price of spodumene fell to $512.90/tonne, marking a 17.72% decline from the previous month. Higher-grade concentrates dominated imports from Australia ($695/tonne), Zimbabwe, Brazil ($612/tonne), and Canada, though their pricing advantage narrowed amid the weak market. On the other hand, South Africa and Zimbabwe emerged as top suppliers with abundant low-cost raw ore shipments, significantly pulling down the overall import price.

III. Conclusion

Africa emerges as key spodumene supplier with cost advantage, driving down import prices. Leveraging competitive raw ore pricing, African suppliers, particularly South Africa, Zimbabwe, and Nigeria, have collectively surpassed Australia in market share, pushing China's average import price down to $512.90/tonne.

This shift reflects domestic manufacturers' strategic push for supply chain resilience and growing price divergence in the global lithium market. Industry analysts note that as Chinese-funded overseas projects ramp up production and optimize trade routes, the lithium import landscape is expected to evolve toward greater supply diversification and enhanced cost efficiency. This transformation will likely provide crucial support for stabilizing China's new energy industrial chain.

Edited by Cassie Li, lixiangying@mysteel.com