As Overseas Steel Mills Undergwent Maintenance, EMM Export Volume Decreased MoM [SMM Analysis]

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

The main reasons for the decrease in export volume in August were: due to the ongoing summer break overseas, many overseas steel mills were in a state of reduced or halted production, leading to weak demand for EMM. Additionally, the high temperatures in summer led to a seasonal lull in EMM purchasing, with downstream demand for EMM being relatively weak. As a result, inquiries and actual transactions for EMM were sluggish. Therefore, the total export volume of EMM and manganese products decreased again in August.