According to customs data, China's lithium carbonate imports in September 2025 were approximately 19,600 tonnes, down 10.3% month-on-month, mainly due to concentrated arrivals in previous periods and domestic inventory digestion. However, imports still increased by 20.5% year-on-year, reflecting resilient domestic demand. Cumulative imports from January to September reached 173,000 tonnes, up 5.2% YoY. In terms of import sources, Chile remained the largest supplier, with imports of 10,800 tonnes, accounting for 55.2% of the total, though this represented a slight decrease of 22.5% YoY. And that from Argentina were approximately 6,948 tonnes, accounting for 35.5%, with a significant year-on-year increase of 242.9%, continuing the rapid growth trend.
Regarding import costs, the average import price from Chile in September was about Yuan 62,400/tonne, while that from Argentina was approximately Yuan 59,100/tonne. The price gap has narrowed compared to previous periods, reflecting cost support from South American salt lake lithium extraction and pricing negotiations in the Chinese market.
In terms of lithium hydroxide, imports in September reached 1,473 tonnes, up 20.3% MoM, mainly due to a moderate recovery in demand for high-nickel ternary materials. Exports amounted to 6,526 tonnes, up 15% MoM but down 48.7% YoY. Among export markets, South Korea accounted for 69.8%, and Japan accounted for 26.3%.
The average export price of lithium hydroxide was about Yuan 77,100/t, still higher than that of lithium carbonate, which has encouraged flexible production lines to prioritize lithium hydroxide production, leading to increased output.
Summary and Outlook:
From a supply-demand perspective, although lithium carbonate imports declined in September, they remained at a relatively high level compared to the same period in recent years. Domestic lithium salt producers maintained low inventory operations amid price fluctuations, while low-priced overseas supplies (particularly from Chile) remained attractive. Lithium hydroxide exports remained stable, benefiting from the steady growth of the overseas electric vehicle market, especially high-nickel models.
In terms of prices, the domestic-overseas price gap for lithium carbonate further narrowed in September, reducing import profit margins. However, considering the upcoming peak seasons for energy storage and EV production and sales in the fourth quarter, import demand is expected to remain robust. For lithium hydroxide, export volumes are expected to remain high due to long-term orders from overseas customers.
Looking ahead to the fourth quarter, as domestic salt lake production enters a seasonal low and downstream battery manufacturers ramp up inventory preparations, lithium carbonate imports are expected to rebound, with supplies from Argentina likely to continue growing. Lithium hydroxide exports still have room for modest growth, driven by model updates in Europe and the U.S. and increasing demand for high-nickel batteries. Overall, the lithium salt import landscape is shifting from expansion to structural diversification, with cost and quality becoming key determinants of future trade flows.
Edited by Cassie Li, lixiangying@mysteel.com
