China’s silicon metal exports hiked in December, but total exports in 2023 dipped by 12% YoY 

Customs data showed that China's silicon metal exports in December 2023 were 51,600 mt, up 8% MoM and 7% YoY. Total exports and imports in 2023 were 573,000 mt and 6,500 mt respectively, down 12% YoY and 78% YoY.
In December, China’s silicon metal was exported to 51 countries and regions, and the exports to the top ten destinations accounted for 84% the total exports, or 43,400 mt. Among them, the top five destinations were Japan, India, South Korea, the Netherlands and Thailand, with a total export of 29,900 mt, accounting for 58% of the total exports. The unit price of silicon metal exports was down 29% YoY amid domestic silicon metal price slip. Judging from export destination countries, exports to Japan and South Korea in 2023 declined by 29% or over 40,000 mt YoY and 2% YoY respectively. The sharp decline in exports to Japan was mainly because losses and muted auto demand tipped some DMC and aluminium alloy plants into production cuts or halts. Exports to Thailand also dropped by 43% or more than 20,000 mt YoY. Abundant raw materials in Southeast Asia lured some new silicon metal capacity being on-stream in the region in recent years, leading to the transfer of a small number of overseas orders. In 2023, China’s exports to some countries increased, with exports to India, Malaysia, Bahrain and Indonesia hiked by 12%-24% YoY. Exports to the UK even increased by more than 700% or 8,000 mt YoY given a small base.