Overseas Steel Mills Show Weak Purchasing Interest; SiMn Alloy Exports Decrease MoM in November [SMM Analysis]

According to the latest release from the General Administration of Customs, SMM statistics show that China's SiMn alloy export volume in November 2024 was 4,351.55 mt, down 15.74% MoM. From January to November, the cumulative export volume was 40,800 mt, down 10.78% YoY. In November 2024, China's SiMn alloy import volume was 2,389.79 mt, down 27.56% MoM. From January to November, the cumulative import volume was 28,200 mt, up 164.62% YoY.

The decrease in export volume in November was due to the traditional off-season, with overseas steel mills showing weak purchasing interest in SiMn alloy. Based on import and export data, the main export destination for SiMn alloy was Indonesia, while the primary import source was Kazakhstan.