Silicomanganese Exports in December Dropped by 9.33% MoM

Published: Jan 26, 2022 16:23

Save

According to the latest release of the General Administration of Customs and SMM statistics, in December 2021, the ferro-silico-manganese exports stood at 6613.32 mt, a 9.33% decrease month-on-month, an increase of 20.02% year-on-year.

SHANGHAI, Jan 26 (SMM) - According to the latest release of the General Administration of Customs and SMM statistics, in December 2021, the ferro-silico-manganese exports stood at 6613.32 mt, a 9.33% decrease month-on-month, an increase of 20.02% year-on-year; the imports stood at 0.4 mt, a 99.98% decrease MoM. According to SMM statistics, from January to December, ferro-silico-manganese exports amounted to 107,000 mt and the imports amounted to 24,000 mt.

According to SMM, domestic silicomanganese output remained high in December, but terminal demand was sluggish. Throughout December, the overall market shipment was poor and the spot prices continued to move down to the break even point. As such, most of the industry participants chose to trade the futures or hold off the shipment. With the easing of terminal demand in mid-December, the market saw a pivot and the spot prices began to pick up slightly, improving the inquiries and shipments.

SMM believes that, in the short term, the environmental protection is still the key in light of the upcoming Beijing Winter Olympics. And as the demand will remain contained for the moment, the prices of silicomanganese are more likely to maintain at a level that allows thin profits.

SMM believes that, in the short term, the end demand is still the key. When the demand is completely released, silicomanganese prices are expected to improve. But in Q1, 2022, silicomanganese prices will largely be stable. The market shall watch how the policies will guide the market.

Silicomanganese

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

During the Pre-Holiday Period, the Magnesium Market Remained Stable, with Magnesium Ingot Prices Holding Steady in Major Production Areas. Overseas Inquiries Increased, but Trading Activity Was Sluggish [SMM Magnesium Weekly Review]

[SMM Magnesium Weekly Review: Magnesium Market Remained Stable Pre-Holiday, Prices Steady in Major Production Areas, Overseas Inquiries Increased but Trading Remained Sluggish] This week, the domestic magnesium industry chain market operated steadily overall. As the Chinese New Year holiday approached, market trading activity gradually slowed, with participants generally adopting a wait-and-see attitude. The dolomite market remained stable overall; the suspension of production by top-tier enterprises in the Wutai region led to tight supply of high-quality resources, but other major production areas promptly compensated for the gap, ensuring stable supply. Steady operations at primary magnesium enterprises in Shaanxi, Shanxi, and Inner Mongolia generated rigid demand, coupled with rising pre-holiday freight costs pushing up expenses, supporting relatively strong prices. The magnesium ingot market held steady, as smelters in major production areas saw eased funding pressure and maintained firm offers, while downstream pre-holiday stockpiling concluded, resulting in sluggish spot trades. In the Tianjin Port FOB market, overseas new orders were scarce, mostly for forward delivery, with the Chinese New Year holiday impacting the progress of actual transactions. Magnesium powder enterprises slowed their production pace after completing raw material stockpiling, as both domestic and international procurement neared completion, leading to a cooling trading atmosphere. Magnesium alloy enterprises operated normally, but downstream die-casting and end-user companies gradually began holiday breaks, resulting in subdued orders. The tight supply-demand balance supported firm processing fees.

4 hours ago

5 hours ago

Rhenium Market in Early February: Cooling Trading Amid Rising Prices, Sustained Supply-Demand Game Ahead

5 hours ago

6 hours ago

Gearing Up for 2026! Magnesium Market Ends January on a Stable Note, Nearly 300,000 mt of Demand Growth Boosts New Industry Prosperity [SMM Domestic Analysis]

[Gearing Up for 2026! Magnesium Market Wraps Up a Stable January, Nearly 300,000 mt of Additional Demand to Boost Industry's New Prosperity] The magnesium market's performance for the year has now concluded. Price fluctuations in the magnesium market during 2025 may not have stood out among nonferrous metals, but it is precisely this past stability that is expected to foster the potential for nearly 300,000 mt of additional magnesium alloy demand growth in 2026. The magnesium metal market in 2026 is set to embark on a year of prosperity, marking a crucial step toward a thriving future. The industry is poised to write a new chapter of growth, which is highly anticipated across the sector. As we bid farewell to the old and welcome the new, on behalf of the SMM Magnesium Team, I would like to extend our sincerest gratitude to colleagues in the industry, magnesium enterprise partners, experts, and scholars who have long cared for and supported SMM. Wishing everyone a prosperous New Year, immediate success, abundant wealth, and lasting good fortune!

6 hours ago