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China 2011 Ferroalloy Exports Down 26% Y-O-Y
= Exports 935,000 tons, imports inched up to 2,054,000 tons =
According to China's Customs Statistics, exports and imports of ferroalloys during the full year of 2011 as well as in the single month of December were as per the tables attached hereto.

In 2010, both exports and imports decreased, but in 2011, exports continued to slide, while imports were up, marginally though, anyway. The gap between the imports and the exports, which had been export-surplus since 2009 widened.

< Exports > Table #1
Total exports in 2011 were 934,888 tons, down by 25.7% from 1,257,446 tons in 2010. This low level of below one million tons of yearly exports was last seen way back in 1999 at 842,808 tons. Production of ferroalloys in China was record-high, substantially up by 22.7% from 2010, but exports had been, on the contrary, shrinking since 2008, due to (i) decreased demand in Europe, (ii) strong competitors (India and Korea), and (iii) the high export tax. To add to the shrinking export business, ferroalloy prices started declining in the second half due to oversupply.

Not many ferroalloys recorded increase in export in 2011 compared to 2010. Only four items did, i.e. Titanium, Vanadium, Niobium and other ferroalloys (including neodymium alloys).

Exports in the single month of December were 76,262 tons, up by 11.9% from 68,182 tons from the preceding month. To note is that exports of ferrosilicon (Si>55%) and high-carbon ferrochrome rebounded to a 4 or 5-month high. No exports of nickel for 5 months in a row.

< Imports > Table #2
Total annual imports in 2011 were 2,053,809 tons, marginally up by 0.5% to keep the two million ton level. Only two of the major ferroalloys, i.e. ferronickel (up by 9.4% from 2010) and low-carbon ferromanganese (up by 24.8 times) were up. There was almost no growth in the imports of the by far most imported ferroalloy, high-carbon ferrochrome.

Imports in the single month of December were 221,752 tons, up by 17.6% from the preceding month. This high level of over 220,000 tons was recorded last time in March 2011. Among the major ferroalloys, high-carbon ferrochrome and ferronickel imports were up, while imports of high-carbon ferromanganese and silico-manganese were down.
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last modified : Fri 17 Feb, 2012 [10:26]
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