SiMn Alloy Exports Surged 121% MoM in Sep amid Sluggish Domestic Demand

SHANGHAI, Nov 3 (SMM) - China SiMn alloy exports stood at 11,200 mt in September, 2022, up 121% MoM and 75% YoY, according to the General Administration of Customs. The exports totalled 110,000 mt from January to September, a gain of 27% YoY. China imported 2 mt of SiMn alloy in September, down 100% MoM and 100% YoY. The imports totalled 10,000 mt in the first nine months of 2022, a year-on-year decrease of 22%. The main increase in SiMn alloy exports was contributed by Indonesia, to which the exports added 212% month-on-month.

The monthly exports rose for several causes. The actual domestic demand was weak, but the supply was relatively sufficient. The operating rates of Indonesian steel mills were relatively stable, with steady demand for raw materials. Therefore, domestic SiMn alloy factories focused on overseas markets, and the export volume soared MoM.