Overseas Purchasing Enthusiasm Increased, SiMn Exports Rose in March [SMM Analysis]

【SMM Analysis: Increased Overseas Purchase Activity Drives SiMn Exports Growth in March】According to the latest data released by the General Administration of Customs, SMM statistics show that China's SiMn exports in March 2025 reached 906.94 mt, up 196.14% MoM. The cumulative exports from January to March totaled 4,900 mt, down 35.21% YoY. In March 2025, China's SiMn imports were 1,468.41 mt, down 22.45% MoM. The cumulative imports from January to March amounted to 5,700 mt, up 32.02% YoY. The increase in exports in March was driven by enhanced purchasing activity from overseas steel mills, leading to an overall MoM increase in SiMn exports. Based on import and export data, the majority of SiMn exports were destined for Thailand, while the primary source of imports was Kazakhstan.