China's common alloys market has seen upward trend over the past week. Chinese manganese alloy market has bottomed out, driven by adverse weather and production suspension and limitation, with tight supply. On the other hand, China's ferrosilicon market prices have also increased slightly.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Silicon manganese | FeMn65Si17 | Guangxi | 8,150 | +50 | 1,231 | +8 |
Ferrosilicon | FeSi75 | Gansu | 7,100 | +50 | 1,079 | +8 |
China's common alloy market characterized by slightly upward trend
Currently, Chinese domestic market quotations of FeMn65Si17 are at RMB 8,100-8,300/mt ($1,231-1,261/mt), with quotations in southwestern China standing at RMB 7,900-8,000/mt ($1,201-1,216/mt), slightly up RMB 50-100/mt ($8-15/mt) week on week. At the same time, the mainstream price of FeMn65 stands at around RMB 7,700-7,800/mt ($1,170-1,185/mt), unchanged week on week. Meanwhile, export offers of FeMn65Si17 are at $1,450/mt FOB, unchanged week on week.
China's manganese alloy market has finally bottomed up, as adverse weather condition caused transportation difficulty and tight supply. In addition, a number of domestic manganese alloy enterprises have continued to suspend and limit production and thus prodcution of mangnese alloy has declined. Looking at teh current situation, the market may maintian the slight upward trend before the Chinese New Year approaches.
Current ex-works prices of ferrosilicon (75 percent) in China stand at RMB 7,000-7,200/mt ($1,064-1,094/mt), sligthly up 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 also seen upward trend in stability, with a strong expectant air in the market. Meanwhile, the resources of ferrosilicon were quite tight in the market with recovering tansaction activities partially due to produciton limitation of ferrosilicon manufactuers. Thus, the asking prices by these ferrosiliocn enterprises have sligthly increaed as the previous period. As regards the export market, it is still weak, as the offers of ex-Russia ferrosilicon are relatively more competitive. As a result, China's exports of ferrosilicon has indicated a decline.
In December, 2010, the exports of domestic ferrosilicon come to 48,900 mt, down 21.7 percent month on month, down 23.55 percent year on year, of which 21,600 were exported to Japan, down 39.29 percent month on month and 16,100 were exported to Korea, down 41.11 percent month on month. In the first 12 months of 2010, the aggregate export volume of ferrosilicon reached 780,000 mt, up 6.69 percent year on year,