The exports of silicon metal jump tempestuously in March in China
The volume of silicon metal exporting was 73,000 MT in March in China, up 52.1% on the month base and up 11.7% on the year base.
This brought overall silicon metal exports in the first quarter to 197,200 MT, up to 8.6% year on year, according to data from China Customs.
As the influence from the China Lunar New Year cooled down, silicon metal exports saw an apparent rebound in March. The year-on-year increase in March include a 14% jump in exports to Japan and a 33% surge in exports to the United Arab Emirates (UAE). Exports to South Korea, however, plunged 21% year on year.
China’s biggest silicon metal export port, HUANGPU port in Guangdong province, its Customs began stricter inspections over silicon metal exports from the end of April as some ferrosilicon exporters declared their cargoes as silicon metal to avoid paying duties. Some local customs brokers have now asked traders to provide relevant documents when declaring, including value-added tax invoices and historical prices.
We learned that only HUANGPU Customs has seen such requirement so far, operations at other main silicon metal export ports including TIANJIN port and XIAMEN port remained unchanged.
While some exporters still managed to make the declaration without providing VAT Invoices at HUANGPU port, they said they would raise offers this week in response to the move that added risks for them.
