In the past week, China's manganese alloy market has seen a slight upward trend, while the domestic ferrosilicon market has been stable. A wait-and-see atmosphere has been prevailing in the domestic common alloys market due to the approaching Spring Festival holiday.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Silicon manganese | FeMn65Si17 | Guangxi | 8,200 | +50 | 1,246 | +8 |
Ferrosilicon | FeSi75 | Gansu | 7,100 | - | 1,079 | - |
Some Chinese mills increase manganese alloy purchases ahead of holiday
Currently, Chinese domestic market quotations of FeMn65Si17 are at RMB 8,200-8,400/mt ($1,246-1,277/mt), with quotations in southwestern China standing at RMB 7,900-8,100/mt ($1,201-1,231/mt), slightly up by RMB 50-100/mt ($8-15) week on week. At the same time, the mainstream price of FeMn65 stands at around RMB 7,800-8,000/mt ($1,185-1,216/mt), slightly up by RMB 100-200/mt ($15-31/mt) week on week. Meanwhile, export offers of FeMn65Si17 are at $1,450/mt FOB, unchanged week on week.
China's manganese alloy market has seen increased purchase volumes from some domestic steel mills in the last round of purchases before the Spring Festival holiday. Offers from steel mills have increased to RMB 8,200-8,500/mt ($1,246-1,283/mt). Looking at the current situation, the prospects for the post-holiday market are still uncertain and market players are maintaining a wait-and-see stance.
Wait-and-see atmosphere prevails in China's ferrosilicon market
Current ex-works prices of ferrosilicon (75 percent) in China stand at RMB 7,000-7,200/mt ($1,064-1,094/mt), unchanged week on week. In addition, export offers of ferrosilicon (75 percent) from China have remained at $1,510/mt FOB, with the ferrosilicon export transaction volume still on the weak side at present.
In the past week, the domestic ferrosilicon market has remained unchanged. Supplies have been fairly tight, while inventories held by domestic steel mills have been quite low. A strong wait-and-see atmosphere prevails in the domestic market with the approach of the holiday. While market players hold different views on the prospects for the post-holiday market, it is generally thought that the domestic ferrosilicon market may continue to follow a stable trend after the holiday.