Silicon Metal Exports in June Increased Slightly on the Month amid Recovering Overseas Demand

SHANGHAI, July 22 (SMM) - According to customs data, China's silicon metal exports stood at 58,400 mt in July, up 1% month on month, but down 16% year on year. Exports of silicon metal totalled 350,300 million mt from January to June, a decrease of 13% year on year.

In June 2022, China's silicon metal was exported to 46 countries and regions, and the top 10 importers accounted for 82% of the total with around 47,700 mt. Among them, the top five export destination countries are Japan, South Korea, Malaysia, the United Arab Emirates and Thailand, and the total export volume is 36,100 mt, accounting for 62% of the total. Japan's import volume increased by 4,000 mt month-on-month in June due to the recovery in demand.

Judging from the total export data in the first half of this year, the import volume of Japan, South Korea, Thailand and Malaysia among the main export destination countries declined by 9%-31%, or was 14,000 mt, 4,000 mt, 7,000 mt, and 9,000 mt on the year respectively. Affected by the conflict between Russia and Ukraine, the import volume of the Russia was only 25,000 mt in the first half of the year, down 19,000 mt on the year. The import volume of the United Arab Emirates and Bahrain increased by 26%-38% or 8,000 mt and 5,000 mt on the year respectively.

From July to August, the export volume of silicon metal may drop slightly due to the summer holiday in Japan and Europe. From the perspective of port inventory turnover, the export volume in July is expected to be around 55,000 mt.