China: Silico manganese prices remain constant w-o-w on weak supply-demand

Prices of silico manganese in China remained constant w-o-w as supply-demand factors remained pale. Prices were at around RMB 6,310/t to 6,410/t ($888/t-$902/t). All prices were ex-works and inclusive of taxes.

The silico manganese market in China functioned with a mediocre pace wherein trading atmosphere was average, and market activities were dull. The overall market witnessed a setback as supply and demand have been weak for a while. Traders were inactive when it came to purchases, and the trades in the market too declined.

Looking at the market for manganese ore, which showed cautious sentiments this week, with slow transactions taking place.

On the other hand, demand for silico manganese stayed muted. The futures market also decreased, and traders in the industry were being careful. The transactions for alloys remained average.

However, there's hope for the future, as steel recruitment continued, people expect demand for silico manganese to increase. Suppliers felt positive about the market. But for now, an eye to be kept on low-price transactions and changes in supply and demand.

Outlook

With the recent stable operation of manganese mines and reduced production before the Spring Festival, it is expected that the market will improve in the future. But for now, things will probably stay the same.

Note: This article has been written in accordance with an agreement between CBC and SteelMint.