Over the past week China's common alloys market has maintained its strong upward trend. Prices of manganese alloys and ferrosilicon prices have greatly increased due to the implementation of the central government's policy aimed at saving energy and reducing emissions. Currently, many producers have suspended production and so supplies to the market have decreased.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Silicon manganese | FeMn65Si17 | Guangxi | 8,800 | +300 | 1,315 | +45 |
Ferrosilicon | FeSi75 | Gansu | 8,000 | +400 | 1,196 | +60 |
In the past week, the prices of manganese alloys have continued to rise. Currently, Chinese domestic market quotations of FeMn65Si17 are at RMB 8,600-9,000/mt ($1,286-1,345/mt), up RMB 300/mt week on week. At the same time, the mainstream price of FeMn65 stands at around RMB 8,400-8,600/mt ($1,256-1,286/mt), up RMB 400/mt ($60/mt) week on week. Meanwhile, export offers of FeMn65Si17 are still standing at $1,600-1650/mt FOB
In the past week, the silicon manganese market in China has picked up obviously, while ferromanganese prices have also risen. With government policy to save energy and reduce emissions being implemented strictly in the main producing areas, many producers of silicon manganese and other alloys have suspended production and so market supplies are currently tight. Some producers have only been able to deliver 30-50 percent of orders. Also, some sellers holding spot products have said that they will not sell at present as they expect prices to climb up higher. Based on the current market situation, demand for manganese ore is low and activity in the domestic manganese alloy import market is expected to remain weak.
During the past week, Chinese ferrosilicon prices have climbed up strongly. Current ex-works prices of ferrosilicon (75 percent) in China stand at RMB 7,800-8,200/mt ($1,166-1,226/mt), up RMB 400/mt ($60/mt) week on week, while export offers of ferrosilicon (75 percent) in China have remained at $1,650/mt FOB.
China's ferrosilicon market has continued to rise significantly. Some confusion has surrounded offer levels, while there has been a lack of spot products in the market. The ex-works prices of ferrosilicon in China exceed RMB 8,000/mt ($1,196/mt) at present. Due to the national policy on energy saving and emissions reduction, some major domestic ferrosilicon plants will suspend production and so market supplies will be tight.