China's Ferro-Silicon Exports See Growth in 2024 Amid Lower Domestic Prices

China’s Ferro-Silicon

Increased Overseas Demand Drives Export Surge for Ferro-Silicon in China

China’s ferro-silicon exports experienced a significant rise in 2024, driven by increased overseas demand and a decline in domestic prices. According to customs data, China exported 405,089 tonnes of ferro-silicon in 2024, marking a 6.8% increase from the 379,353 tonnes exported in 2023. The surge in exports reflects the growing demand from international buyers seeking cost-effective alternatives amid falling prices in the Chinese market.

December Exports Surge with Price Declines

In December 2024, China’s ferro-silicon exports totaled 30,870 tonnes, marking a 31% increase compared to 23,644 tonnes in December 2023 and a 19% rise from November 2024. The average price for 72% grade ferro-silicon in 2024 was 6,358 yuan per tonne ($871), reflecting an 11% decrease from the previous year, when prices stood at 7,106 yuan per tonne. This drop in prices has been a key factor in driving China’s ferro-silicon exports, as international buyers capitalize on the more competitive pricing.

Lower Prices Lead to Global Competitiveness

Despite the price reductions, which hit the lowest levels since December 2020, China’s ferro-silicon industry remains competitive in global markets. On December 31, 2024,  assessed prices for 72% grade ferro-silicon at 5,950-6,150 yuan per tonne, primarily driven by tepid demand in the downstream steel and construction sectors. The Chinese market’s ability to offer lower prices for ferro-silicon positions the country as a dominant exporter, particularly as global industries continue to seek cost-effective materials.

In conclusion, China’s ferro-silicon exports are on an upward trajectory in 2024, driven by lower domestic prices and robust international demand. The country’s ability to remain competitive in the global ferro-silicon market will likely support further export growth in the coming years.