China's spodumene imports totaled around 557,700 tonnes in February 2026, down 33.0% month-on-month, according to data from the General Administration of Customs of the People's Republic of China (GACC). This included 114,000 tonnes of raw ore from South Africa (-30.4% MoM), 280,000 tonnes from Australia (-22.8% MoM, +20.9% YoY), 70,000 tonnes from Zimbabwe (-18.5% MoM), and 77,000 tonnes from Nigeria (-17.4% MoM). These imports amounted to approximately 48,000 tonnes in lithium carbonate equivalent (LCE) terms, adjusted for grade and moisture.
For January-February 2026, China's spodumene imports reached 1.39 million tonnes, up 20.1% year-on-year. Notably, January 2026 set a record high for monthly spodumene imports on a physical tonne basis, while February saw a pullback to historically low levels.
From a region-wise perspective, the February decline of imports from Australia was mainly attributed to conservative shipment strategies by local mines early in the year. As the first quarter of 2026 draws to a close, March shipments have rebounded significantly, with an estimated 400,000–450,000 tonnes of spodumene concentrate expected to be shipped to China. Based on current shipping schedules, Australian concentrate arrivals in March and April are projected to remain within the 300,000-350,000-tonne range.
In Africa, the imports from African countries collectively declined month-on-month in February, largely due to shipping schedules and customs clearance delays during China's week-long Chinese New Year holiday period.
Following a year of production ramp-up, Nigeria has emerged as the fastest-growing supply region. The January-February imports reached 170,000 tonnes, a year-on-year increase of 97.73%. However, capacity is now approaching its cap, suggesting import volumes are likely to stabilize with limited further growth in the near term.
The imports from Zimbabwe declined consecutively in January and February, falling 35.3% MoM in January and a further 18.5% in February to 70,000 tonnes. Against the backdrop of the current export ban, supply uncertainty from the region is escalating.
Nevertheless, the supply performance has remained steady in Mali, with both of the country's operating mines now making shipment. Based on shipping fixtures, March arrivals are expected to rebound to January's high levels, though April is likely to see a lull in arrivals.
South African exports are dominated by low-grade raw ore with a grade of 1–2% Li2O, which accounts for only about 5% of China's total imports in LCE terms, exerting a limited impact on the broader supply picture.
Elsewhere, the imports from Brazil remained subdued in January-February, weighed down by the continued suspension of shipments from Sigma Lithium. No meaningful recovery is expected in March-April.
The supply from Canada is usually concentrated by quarter-end. No arrivals were recorded in January-February, but a concentrated arrival of 70,000 tonnes is expected in March, with no shipments scheduled for April, yet.
In summary, spot lithium ore liquidity in China has tightened noticeably in recent months. Robust production scheduling across China's lithium refineries has driven active ore consumption. To ensure production continuity, the refineries have adopted proactive restocking strategies, with forward procurement coverage now extended by two to three months.
From a longer period, aside from incremental volumes from Mali, near-term growth potential from traditional supply regions has largely reached a ceiling, based on the spodumene import data since early 2025. While Mali has contributed additional spodumene, much of this supply is tied to integrated operations and thus not available to the spot market. Meanwhile, as lithium carbonate capacity reliant on externally sourced ore continues to be unleashed, competition for the limited volume of spot ore is intensifying.
Source: Mysteel
Written by Aggie Hu, huchenying@mysteel.com
