China's manganese alloys market has followed a soft trend over the past week due to lack of demand. On the other hand, China's domestic ferrosilicon market has continued to rise due to the tight supply resulting from power rationing in northern China, especially in the Inner Mongolia Autonomous Region and the Ningxia Hui Autonomous Region. It is considered that further room for increase still exists in the domestic ferrosilicon market.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Silicon manganese | FeMn65Si17 | Guangxi | 8,500 | -100 | 1,276 | -15 |
Ferrosilicon | FeSi75 | Gansu | 8,900 | +200 | 1,336 | +30 |
In the past week the prices of manganese alloys in China have followed a downward trend, as in the previous week. Currently, Chinese domestic market quotations of FeMn65Si17 are at RMB 8,300-8,600/mt ($1,246-1,276/mt), down RMB 100/mt ($15/mt) in general, week on week. At the same time, the mainstream price of FeMn65 remains at around RMB 8,300-8,500/mt ($1,246-1,276/mt), unchanged week on week. Meanwhile, export offers of FeMn65Si17 are standing at $1,550/mt FOB.
Power rationing is still being implemented in northern China, especially in the Inner Mongolia Autonomous Region, where all mills have been required to suspend production completely. As a result, recent demand in the manganese alloy market has been weak. Looking at the current situation, the manganese market will likely continue to follow a weak trend in the near future.
During the past week Chinese ferrosilicon prices have continued the uptrend of the previous week. Current ex-works prices of ferrosilicon (75 percent) in China stand at RMB 8,800-9,000/mt ($1,321-1,351/mt), up RMB 200/mt ($30/mt) week on week, while export offers of ferrosilicon (75 percent) from China are standing at $1,820-1,850/mt FOB.
Over the past week Chinese ferrosilicon prices have continued to show an uptrend, with offers from steel mills up greatly again in the context of significant restrictions of production in China's main production region. Currently, market offers at the high end are standing at RMB 9,300/mt ($1,396/mt), while some market players report offers at RMB 9,000/mt ($1,351/mt).
Supplies in the Chinese ferrosilicon market will likely continue to shrink in the coming period, with domestic ferrosilicon prices thus expected to rise further.