SHANGHAI, Dec. 24 (CBI China) -- The total silicon exports in November were 46,968 mt, with the amount of 112.605795 million U.S. dollars, down 26.6% MoM anddown 38.9% YoY.
From the reaction of the market in November, the exports were sluggish, and overseas manufacturers were pessimistic about the market outlook, leading muted transactions. Although the export tariff of silicon in late November increased to 15%, only a small number of inventories were exported in November or entered the bonded area.
Some traders expressed more concern about the export in December, "in November there might be a few exporters to complete their previous orders. However, in December tariffs increased by 5%, exports may become fewer, leading more pressure on the domestic stocks."
CBI believes that a large number of aluminum manufacturers cut or even suspended production due to the global economic crisis, as a result, the demand for silicon is unlikely to improve in the short term, moreover, export tariffs adjustments dampened exports to a certain extent. As the domestic demand will decline further, leading greater pressure on the stock, therefore the manufacturers should be more cautious about operations.
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