Overseas Steel Mills Show Weak Purchasing Interest; SiMn Alloy Exports Decline in November [SMM Analysis]

According to the latest data released by the General Administration of Customs, SMM statistics show that China's SiMn alloy export volume in November 2024 was 4,351.55 mt, down 15.74% MoM. From January to November, the cumulative export volume was 40,800 mt, down 10.78% YoY. In November 2024, China's SiMn alloy import volume was 2,389.79 mt, down 27.56% MoM. From January to November, the cumulative import volume was 28,200 mt, up 164.62% YoY.

The decline in export volume in November was attributed to the traditional off-season, during which overseas steel mills showed weak purchasing interest in SiMn alloy. Based on import and export data, the majority of SiMn alloy exports were to Indonesia, while imports mainly came from Kazakhstan.