China Silicon Exporters Watch from Sidelines, and Exports down in May, SMM Reports

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China rare earth ore imports recorded 14,400 mt in January-February 2022, down 13% YoY which was mainly attributed to middle and heavy rare earth.

The SHFE and LME nickel prices diverged markedly in the afternoon trading on Tuesday. The SHFE/LME nickel price ratio shrank from 7.28 to 7.07. The import loss widened to $1,000/mt.

According to General Administration of Customs China imported 8.73 million mt of bauxite in December, up 13.32% month-on-month and 16.4% year-on-year.

China imported 4.01 million mt of nickel ore and its concentrate in November, a decrease of 10% from the previous month and a year-on-year increase of 12%, According to General Administration of Customs.

The trades remained subdued, and the Yangshan copper premiums changed little. Many trading companies have closed their accounts and are busy with the year-end settlement, lacking purchasing interest for spot cargoes. Import losses fluctuated between 200-400 yuan/mt during the week against the January contract.

In October steel export volume reaches 4.98 million tonnes, dropping 3.1% and 35.3% on monthly and yearly basis respectively.

Trading improved in the oxygen-free #553 silicon market as China’s National Day holiday nears, SMM finds.

Silicon plants in Zhangzhou and Sanming will also cut, or halt output with nearing of BRICS meeting.

China's steel mills started bidding negotiation for Si-Mg alloy in August, and had intense price struggle with traders.