The export volume of silicon metal increased in December [SMM Analysis]

Customs data shows that China’s silicon metal exports in December 2023 were 51,600 tons, an increase of 8% month-on-month and 7% year-on-year. The cumulative export volume of silicon metal from January to December 2023 was 573,000 tons, a year-on-year decrease of 12%. The cumulative import volume of silicon metal from January to December 2023 was 6,500 tons, a year-on-year decrease of 78%. The exports went to a total of 51 countries and regions in December, with 43,400 tons to the top ten countries exporting, accounting for 84% of total exports. The top five export destination countries were Japan, India, South Korea, the Netherlands and Thailand, with a total export volume of 29,900 tons accounting for 58%. According to customs data, the cumulative export volume of silicon metal in 2023 was 573,000 tons, a year-on-year decrease of 12%.

Affected by the decline in domestic silicon prices, the export price fell by 29% year-on-year. Exports to both Japan and South Korea have experienced reductions. In 2023, exports to Japan dropped 29% year-on-year, with a reduction of more than 40,000 tons. Exports to South Korea dropped 2% year-on-year. The sharp decline in Japan's export volume is mainly due to the production capacity of DMC and the aluminum-silicon alloy business. Due to losses or sluggish demand from automobiles, orders have declined, and some companies have suspended or reduced production to varying degrees. Exports to Thailand also experienced a 43% year-on-year decline of more than 20,000 tons. The abundant resources such as raw materials in Southeast Asia have attracted some new industrial silicon production capacity layouts in recent years, attracting the transfer of a small number of overseas orders. In 2023, some countries saw an increase in silicon metal imports from China. China's exports to India, Malaysia, Bahrain, Indonesia and other countries saw year-on-year increase of 12-24%. The Exports to United Kingdom even increased by more than 700% to 8,000 tons.