【SMM Analysis：Overseas Steel Mills Undergo Maintenance, EMM Exports Decrease MoM】

Published: Sep 20, 2024 17:15

Source: SMM

Save

【SMM Analysis：Overseas Steel Mills Undergo Maintenance, EMM Exports Decrease MoM】According to the latest release from the General Administration of Customs, SMM statistics show that in August 2024, China exported 22,154 mt of unwrought manganese, scrap, and powder, down 20.12% MoM and up 2.83% YoY. The export volume of wrought manganese and manganese products was 2,776 mt, up 51.28% MoM and down 18.71% YoY. In August 2024, the total export volume of EMM and manganese products was 24,900 mt, down 15.69% MoM. The main reasons for the decrease in export volume in August were: Overseas steel mills were still in the summer break period, with many in a state of reduced or halted production, leading to weak demand for EMM. Additionally, due to the high temperatures in summer, EMM entered a regular off-season for procurement, with downstream demand for EMM being weak, and inquiries and actual transactions were sluggish. Therefore, the total export volume of EMM and manganese products decreased again in August.

According to the latest release from the General Administration of Customs, SMM statistics show that in August 2024, China exported 22,154 mt of unwrought manganese, scrap, and powder, down 20.12% MoM and up 2.83% YoY. The export volume of wrought manganese and manganese products was 2,776 mt, up 51.28% MoM and down 18.71% YoY. In August 2024, the total export volume of EMM and manganese products was 24,900 mt, down 15.69% MoM.

The main reasons for the decrease in export volume in August were: Overseas steel mills were still in the summer break period, with many in a state of reduced or halted production, leading to weak demand for EMM. Additionally, due to the high temperatures in summer, EMM entered a regular off-season for procurement, with downstream demand for EMM being weak, and inquiries and actual transactions were sluggish. Therefore, the total export volume of EMM and manganese products decreased again in August.

Import/Export

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 for 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

44 mins ago

Magnesium Prices Rise for Three Consecutive Sessions! Cost Side Remains "Burning Hot" While Demand Side Struggles to Take Over [SMM Commentary]

44 mins ago

1 hour ago

TiO2 market remains in the doldrums, supply divergence persists while prices edge upward slowly [SMM Titanium Spot Express]

[SMM Titanium Spot Express: Titanium Dioxide Market Remains in the Doldrums, Supply Divergence Persists as Prices Creep Upward Slowly] On September 2, the SMM titanium dioxide index stood at 14,080 yuan/mt, with quotes for all grades unchanged. Supply-side cargo divergence was evident in the market, with some enterprises offering discounts to move inventory. Downstream demand remained weak with no concentrated restocking yet, and the effectiveness of price adjustments still needs to be verified. In the short term, prices are expected to consolidate.

1 hour ago

Cost Support Lifts Magnesium Ingot Quotes; Weak Demand in Domestic and Overseas Markets May Lead to Consolidation [SMM Magnesium Ingot Spot Express]

[Cost Support Lifts Magnesium Ingot Quotations; Weak Demand in Domestic and Overseas Markets May Keep Prices Consolidating] Mainstream quotations for magnesium ingot in Fugu stand at 16,050-16,150 yuan/mt, with FOB prices at $2,280-2,380/mt. Domestic producers are actively holding prices firm on cost support, but downstream purchases remain cautious and high-price deals are hard to close. The overseas market is rising passively in tandem with China without any substantial improvement in ex-China demand. Magnesium prices are likely to consolidate within a range in the short term.

1 hour ago