Exports of Silicon-Manganese Alloy Increased 396% on the Month

SHANGHAI, Apr 20(SMM) - According to the latest data of the General Administration of Customs, exports of ferromanganese silicon in China in March 2022 stood at 13,228.5 mt, a month-on-month increase of 396%, a year-on-year increase of 189%; imports of 2,984 mt, of which 2,754 mt goods were for the customs special supervision zone. From January to March, exports totalled 22,261 mt, soaring 367% year on year.

There are two main reasons for the large increase in China's ferromanganese silicon exports in March. On the one hand, the Russian-Ukrainian conflict has driven the demand for ferromanganese silicon to a certain extent, and overseas prices were higher during the month, leading to iron plants turning to overseas export. On the other hand, the domestic demand was limited in March. While prices of raw material soared, the overall costs of silicon-manganese alloy pulled up. However, with thin terminal demand, the spot prices were moderate even with increasing costs and the profits were squeezing. As a result, with high overseas prices, the market turned to export to the overseas markets, leading to a sharp increase in exports in March.