China's suppliers increased exports of lithium-ion batteries in November, particularly to the US, on fears of potentially higher tariffs in 2025.

China exported 124,658t of lithium-ion batteries to the US in November with a value of $1.86bn, up significantly from 94,058t or $1.436bn in October, and from 77,372t or $1.47bn in November 2023, customs data show.

The US was the largest buyer of Chinese lithium-ion batteries in November, accounting for 39pc of China's total exports, followed by Germany with 37,048t, South Korea with 18,281t, Australia with 12,357t and India with 12,148t.

The increase in shipments to the US comes on the back of China reducing its export tax rebate for batteries to 9pc from 13pc as of 1 December, and higher import tariffs on Chinese products expected to be imposed when Trump takes office in late January, according to market participants.

Argus launched a new price assessment for lithium iron phosphate (LFP) cathode active material on 7 August. The price held at 34.0-38.8 yuan/kg ex-works on 18 December, stable from 11 December. Some major producers are set to raise their LFP prices in the near term because export demand is unusually stronger this year given the increase in overseas shipments.