SiMn Exports Pulled Back MoM in February, While Imports Remained at Zero [SMM Analysis]

According to the latest release from the General Administration of Customs, SMM statistics showed that China’s SiMn exports totaled 1,965.37 mt in February 2026, down 22.61% MoM. Cumulative exports in January-February reached 4,500 mt, up 11.73% YoY. China’s SiMn imports were 0 mt in February 2026, flat from January MoM. Cumulative imports in January-February were 0 mt, down 100% YoY on a cumulative basis.

SiMn exports fell MoM in February for two reasons. First, February coincided with the Chinese New Year. The final batch of pre-holiday orders had already been delivered in January, while production, logistics, and customs clearance efficiency all declined during the month, leading to lower exports. Second, outside China demand remained weak. The global steel off-season persisted, and steel mills in major export destinations such as Indonesia continued production cuts and maintenance, keeping procurement volume of SiMn at low levels.

SiMn imports in February continued the trend seen in January, with imports at 0 mt.

From the regional structure of trade flows, Indonesia was the main destination for SiMn exports.

As for the sustainability of future SiMn alloy exports: from the macro perspective, it is necessary to track how changes in the global economic environment are transmitted to the overall SiMn market; from a fundamentals perspective, focus should be placed on the recovery pace of production demand from steel mills outside China, as well as changes in capacity release and cost control among China’s SiMn producers.