Both Imports and Exports of EMM Fell amid the Weak Overseas and Domestic Demand

SHANGHAI, July 25 (SMM) - China’s total exports of wrought manganese, manganese products, unwrought manganese, shredded scrap, and powder stood at 33,900 mt in June, down 25% month on month but up 35% year on year, according to SMM statistics. China’s total exports of unwrought manganese, shredded scrap, and powder stood at 3,0750 mt in June, down 24% month on month and 28% on the year, and the exports of wrought manganese and manganese products recorded 3,188 mt in August, down 35% on the month and 65% on the year.

The decline in exports was mainly caused by the weak terminal demand and overseas summer holiday period. In addition, due to the huge decline in EMM prices in the early stage, the exports increased and the overseas port inventory increased. Therefore, the exports in June declined.

In terms of imports, China’s total Import of wrought manganese, manganese products, unwrought manganese, shredded scrap, and powder stood at 1,033 mt in June, down 61% month on month. China’s total imports of unwrought manganese, shredded scrap, and powder stood at 1,000 mt in June, down 61% month on month, and the imports of wrought manganese and manganese products recorded 33 mt in August, flat from the previous month.

The decline in imports was mainly caused by the poor terminal consumption and the output cut plans of steel mills. In terms of EMM supply, although the spot prices were low, most EMM plants wait-and-see, hence the output cut was limited. The domestic inventory of EMM was hard to digest amid the unbalanced demand and supply. In this scenario, the imports fell obviously on the month.