According to customs data, in August 2024, China's silicon metal exports were 64,800 mt, up 20% MoM and up 50% YoY. From January to August 2024, the cumulative export volume of silicon metal was 483,800 mt, up 28% YoY.
In terms of imports, in August 2024, China's silicon metal imports were 5,100 mt, up 266% MoM. The cumulative import volume from January to August 2024 was 20,100 mt, with a YoY increase of 369%.
In terms of exports, in August, exports were made to 41 countries or regions. The top ten countries accounted for 55,000 mt, making up 84.6% of the total, while the top five countries accounted for 37,000 mt, making up 56.6%. The rankings were Japan (11,300 mt), India (7,000 mt), Thailand (6,700 mt), South Korea (6,700 mt), and Malaysia (5,100 mt). The significant MoM increase in August's silicon metal exports was mainly due to the gradual elimination of previous impacts such as tax inspections and soaring ocean freight. In September, export orders from traders were decent, and it is expected that September's silicon metal export volume will fluctuate slightly. The annual silicon metal export volume for 2024 is expected to increase to around 720,000 mt.
In terms of imports, the annual silicon metal import data shows that the main sources are South Africa, France, and Spain, with imported cargoes mainly flowing into Yunnan, primarily serving the crystalline silicon photovoltaic industry.
