China’s silicon metal export in Dec hit nine-year high

‍‍‍‍China exported 90,500 mt of silicon metal in December 2017, up 46.1% from December 2016, according to Chinese customs data. Up 19.5% from November 2017, December’s exports marked the highest monthly volume since 2009. Total silicon metal exports last year amounted to 838,000 mt, up 17.2% from a year ago.

Higher export in December was mainly due to increasing consumption in the overseas market as well as restocking ahead of China lunar New Year holiday in mid-February. Some traders also booked their cargoes earlier in the face of uncertain freight rates.

However, we believe that the country’s silicon metal export in January will drop from levels in December as foreign exchange rates were volatile last month. Some sellers were reluctant to accept orders as they were concerned about exchange rate losses.

In addition, some exporters have stopped taking orders since the end of January due to the approaching China lunar New Year and uncertainties over logistics.

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