SiMn Alloy Exports Declined Again in December, Down 47.65% MoM [SMM Analysis]

[SMM Analysis: SiMn Alloy Exports Declined Again in December, Down 47.65% MoM] According to the latest release from the General Administration of Customs, SMM statistics show that China's SiMn alloy export volume in December 2024 was 2,278.08 mt, down 47.65% MoM. The cumulative export volume from January to December was 43,100 mt, down 10.43% YoY. In December 2024, China's SiMn alloy import volume was 1,532.63 mt, down 35.87% MoM. The cumulative import volume from January to December was 29,700 mt, up 127.74% YoY. The decrease in export volume in December was due to the approach of year-end, which coincided with the off-season for steel consumption. Overseas steel mills showed weak demand for SiMn alloy, leading to an overall reduction in purchases. Based on import and export data, the main export destination for SiMn alloy was Indonesia, while the primary source of imports was Myanmar.