Australia's spodumene exports to China rise in 1H 2022

Lithium concentrate (spodumene) exports from Australia to China rose to 1.16mn t during January-June, up by 28.5pc from a year earlier, in response to increasing demand from Chinese lithium salts producers.

Exports from Australia rose to 1.21mn t during January-June, up by 27.7pc from a year earlier. China was the largest importer, accounting for 96pc of the total, followed by 1.8pc by Belgium and 1.1pc by South Korea.

The average export price for Australian spodumene rose to $2,654/t in June, up by 516pc from a year earlier, pushed up by robust demand from the electric vehicle (EV) power battery industry and tight supply availability.

Spodumene exports for January-June from west Australia's Port Hedland totaled 252,615 dry metric tonnes (dmt), compared to 181,509dmt a year earlier, with more than 90pc flowing to China.

Australian lithium producer Pilbara Minerals' eighth BMX auction since digital sales began in mid-2021 at an initial price of $1,250/dry metric tonne (dmt) on 3 August saw a winning bid of $6,350/dmt, for 5,000 dmt of spodumene grading 5.5pc lithium oxide. The price is $162/dmt higher than the price at Pilbara Minerals' seventh auction.

Argus last assessed prices for 6pc grade lithium concentrate (spodumene) stable at $5,500-5,650/t cif China on 2 August, in response to tight supply and buoyant demand, up from $4,850-5,000/t cif China on 17 May when Argus launched this assessment.