According to the Ministry of Commerce, the SUBREI reported on May 19 that its "Third Lithium Industry Report: A Global Trade Perspective" revealed that despite the recent decline in international lithium prices, Chile's lithium exports (measured in lithium carbonate equivalent, LCE) still hit a historic high of 314,000 tonnes in 2024, marking a 26% increase from 2023 and an average annual growth rate of 29% over the past four years.
As for refined lithium products, Chile remains the world's top exporter, accounting for 42% of global shipments (combined lithium carbonate and lithium hydroxide), followed by China (33%) and Argentina (15%). However, Chile's total lithium export value dropped to $2.895 billion in 2024 due to the plummeting lithium prices, a 57% year-on-year decline. The average price of lithium carbonate fell to $11,049/t (down 58% YoY), while lithium hydroxide averaged $11,398/t (down 74% YoY).
Despite the price slump, Chile contributed nearly half of the global refined lithium trade in 2024, reinforcing its dual status as the world's second-largest lithium exporter (after Australia) and the top supplier of refined lithium products.
Edited by Cassie Li, lixiangying@mysteel.com
