China Silicon Exports Up 24.92% MoM in March 2017, SMM Reports

SHANGHAI, May 2 (SMM) – China exported 65,400 tonnes of silicon in March, up 24.92% MoM but down 11.09% YoY, according to China Customs. And those were 181,500 tonnes of silicon in the first quarter of 2017, up 1.38% YoY.

SMM attributed two factors to the growth on a monthly basis.

First, workdays increased more than 10 days in March from February’s level. Domestic enterprises closed for 2017 Chinese New Year holiday from January 27-February 3 and some traders even held offline after Lantern Festival on February 11. Hence, no transaction saw in China’s market in the first half of February. Second, as silicon price was in upward momentum in the first half of March, many foreign buyers built stocks with optimistic outlook.

However, silicon exports declined sharply in March 2017 on a yearly basis. Transaction was poor in February 2016 due to 2016 Chinese New Year holiday, and many export orders were delivered in March 2016, increasing exports sharply. Silicon exports expanded 42.64% MoM in March 2016.

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