China exports over 88,000 tons of ternary precursors in the first November of 2020
China exports over 88,000 tons of ternary precursors in the first November of 2020
The substantial growth of the overseas new energy vehicle market has driven China's upstream lithium battery material exports to surge.
According to Chinese customs data, from January to November 2020, domestic exports of NCM ternary precursors reached 81,649 tons, a year-on-year increase of 37.2%; during the same period, exports of NCA precursors increased by 1.4% to 6,868 tons.
Among them, 8,772 tons of NCM ternary precursors were exported in November, an increase of 40.1% over the same period last year, and the export volume of NCA precursors increased by 89.3% over the same period last year to 947 tons.
Figure 1: China's export volume of ternary precursors (t)
Obviously, the significant year-on-year growth in China's ternary precursor exports was mainly driven by the substantial increase in sales of electric vehicles in Europe. The installed power of Japanese and Korean battery companies such as LG Chem, Samsung SDI and SKI increased significantly, which in turn led to a surge in China's ternary precursor exports.
At present, Europe is setting off a new round of power battery capacity competition, including China, Japan and South Korea battery giants such as CATL, Honeycomb Energy, Samsung SDI, LG Chem, SKI, and European battery companies, all of them are building large-scale power battery projects in Europe, this in turn generates strong demand for battery raw materials.
At present, many Chinese lithium battery material companies have announced the establishment of factories in Europe to provide nearby supporting services for their overseas customers. Later, more Chinese lithium battery material companies will be attracted to go overseas.
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