China Silicon Metal Exports in March Declined From a Year Ago Amid Sluggish Overseas Demand

According to customs data, China silicon metal exports in March 2023 were 48,000 mt, up 1% MoM but down 33% YoY. Exports totalled 147,200 mt from January to March, a decrease of 18% YoY.

Those exports in March went to 54 countries and regions, and the exports to the top ten destinations totalled 40,000 mt. Among them, the top five destinations were Japan, South Korea, India, Netherlands and Malaysia, with the export volume to those regions accounting for 62%.

China’s total exports of silicon metal in 2022 were 651,000 mt, a year-on-year decrease of 16%, which is the second major decrease in the past ten years after a year-on-year decrease of 150,000 mt or 18% in 2019. The exports to main destinations like Japan, India, and Thailand continued to fall by 11,000 mt, 7,000 mt and 6,000 mt respectively. Exports to South Korea and Malaysia recovered slightly, both increasing by around 4,000 mt. The decline in end-user consumption has led to a drop in operating rates of overseas aluminium alloy companies. Some overseas DMC factories have also stopped production for maintenance due to high raw material prices and weak consumption. Affected by weaker overseas demand, China’s silicon metal exports show no sign of a significant improvement. At the same time, due to the fierce price competition amid overseas price cuts, the profits of Chinese export traders this year are also relatively poor.