Over the past week China's common alloys market has maintained its upward trend, with the transaction situation improving. Prices of manganese alloys continued to rise slightly. Meanwhile, ferrosilicon prices have also increased; a lot of ferrosilicon enterprises have suspended production operation and supplies are currently a little tight.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Silicon manganese | FeMn65Si17 | Guangxi | 7,600 | +50 | 1,121 | +7 |
Ferrosilicon | FeSi75 | Gansu | 6,450 | +50 | 951 | +7 |
In the past week, the prices of manganese alloys have risen slightly. Currently, market quotations of FeMn65Si17 are at RMB 7,650-7,850/mt ($1,128-1,158/mt) in the north of China, and are priced at RMB 7,450-7,700/mt ($1,099-1,136/mt) in the south of the country, increasing by RMB 50-100/mt ($7-15/mt) week on week. At the same time, the mainstream price of FeMn65 stands at around RMB 7,500-7,600/mt ($1,108-1,121/mt). Meanwhile, export offers of FeMn65Si17 are still standing at $1,450/mt FOB.
In the past week, the silicon manganese market picked up obviously, while high carbon ferromanganese prices rose slowly. Inquiries for silicon manganese have gradually increased and quotations have risen slightly due to the lack of supply. Meanwhile, high carbon ferromanganese producers have tentatively raised their ex-works prices, but it is hard for domestic mills to accept the new levels. Based on the current market situation, the domestic manganese alloy market still has room to increase in the coming period.
Current ex-works prices of ferrosilicon (75 percent) in the northwestern region stand at RMB 6,400-6,450/mt ($944-951/mt), with the lower end up slightly week on week, while export offers of ferrosilicon (75 percent) have remained at $1,350/mt FOB.
During the past week, China's ferrosilicon market has continued to rise and transactions have increased significantly, with most enterprises booked with orders until September. The suspended operations of many enterprises have contributed to the hike of market prices. It is learned that in the region of Inner Mongolia 70 percent of ferrosilicon enterprises have suspended their production due to the higher electricity charges, while half of the producers in Ningxia and Gansu have chosen to stop production.