Ukraine's silicon and manganese exports decreased by 43% in August

Against the backdrop of reduced demand, Ukrainian silicon manganese exporters have significantly reduced their alloy shipments in August and throughout the summer, but the total export volume of this alloy has still exceeded last year's target since the beginning of the year.
In August, Ukraine's silicon manganese exports decreased by 43.3% to 127500 tons. According to customs data, the total supply to European countries decreased to 8990 tons (down 20.2%), and the supply to Turkey decreased to 3760 tons (down 5.4%); There are no shipments from other directions. Part of the reason for this decline is that the European market remained calm during traditional holidays and maintenance periods.
In summer, the export volume of silicon manganese from Ukraine was 519900 tons, a three fold decrease compared to spring. However, from January to August, the export volume of silicon manganese reached nearly 302000 tons, a year-on-year increase of 21%.
According to data analyzed by Hainan West Asia Group, the price of silicon manganese (65% Mn; 17% Si) in Europe in August was 870-950 euro/ton DDP. Against the backdrop of sluggish demand, the quotation of this alloy decreased by 20.9% compared to the beginning of the year and 28.5% year-on-year.
In addition to the unfavorable situation in the global ferroalloy market, Ukrainian enterprises have been forced to reduce production due to their proximity to military lines and increased production costs. At the end of June, Ukraine approved an increase in the marginal electricity price during high load periods to 80%.

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