In December 2024, China's export volume of ternary cathode precursors was 12,702 mt, up 25% MoM and down 35% YoY.
From January to December 2024, China's cumulative export volume of ternary cathode precursors (including NCM, NCA, nickel oxides, and NC) was 180,926 mt, down 26% YoY.
In December, the overall export volume of ternary cathode precursors increased compared to November, with significant growth in NCM and NCA, while the export volume of nickel oxides and NC slightly weakened. The total export volume of nickel oxides and NC in December was 2,025 mt, down 9% MoM and 63% YoY. The export volume of NCA in December was 45 mt. Additionally, the total export volume of NCM in December was 10,632 mt, up 34% MoM and down 23% YoY.
By country, in December, South Korea remained the main export destination for China's nickel oxides and NC, with its share decreasing to 65%. The export volume to South Korea also declined, dropping from 1,953 mt in the previous month to 1,318 mt. The volume of NCM exported to South Korea increased from 7,701 mt in the previous month to 10,404 mt.
By exporting province, regarding nickel oxides and NC, the export volume in December 2024 was 2,025 mt, of which Jiangsu Province exported 7 mt, accounting for 0.3%, with a slight increase compared to the previous month. Hunan Province exported 1,365 mt, showing a decrease compared to the previous month, with its share dropping from 82% to 67%.
For NCM, the export volume in December was 10,632 mt, of which Zhejiang Province exported 6,528 mt, showing growth compared to the previous month, with its share in the total export volume rising from 26% to 61%. Hunan Province's export volume decreased, with its share dropping from 18% to 13%.
SMM New Energy Research Team
Cong Wang 021-51666838
Lingying Zhang 021-51666775
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Ying Xu 021-51666707
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Ye Yuan 021-51595792
Zhicheng Zhou 021-51666711
Xianjue Sun 021-51666757
Ziya Lin 021-51666902
Lianting Yang 021-51595835
