Overseas Steel Mills Resumed Production, EMM Exports Significantly Increased [SMM Analysis]

According to the latest release from the General Administration of Customs, in September 2024, China's exports of unwrought manganese and scrap totaled 33,923 mt, up 53.13% MoM and up 12.77% YoY. Exports of wrought manganese and manganese products were 1,631 mt, down 41.23% MoM and down 23.21% YoY. In August 2024, the total export volume of EMM was 36,000 mt, up 42.62% MoM and up 10.4% YoY.

The increase in September exports was mainly due to the end of the summer break overseas, leading to a rise in demand for domestic EMM as overseas steel mills resumed production. With the end of the high-temperature summer weather, the operating rate of overseas end-use manufacturing sectors increased, and there was also a certain increase in demand for alloys and other products. By country, exports to Russia were the highest, with a total of about 9,000 mt in September, accounting for 12.87% of total exports, up about 30.14% MoM. It is expected that EMM exports will stabilize in October.