The Chinese common alloys market has in general followed a downtrend over the past week. The domestic ferrosilicon market has registered decreases particularly in Ningxia Hui Autonomous Region and in Gansu Province. The domestic manganese alloy market has observed decreases especially in Guangxi Zhuang Autonomous Region.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Silicon manganese | FeMn65Si17 | Guangxi | 8,950 | -200 | 1,346 | -30 |
Ferrosilicon | FeSi75 | Gansu | 7,850 | -50 | 1,180 | -7 |
In the past week, the prices of manganese alloys in China have decreased. Currently, Chinese domestic market quotations of FeMn65Si17 are at RMB 8,800-9,100/mt ($1,323-1,368/mt), down RMB 200/mt ($30/mt) week on week. At the same time, the mainstream price of FeMn65 stands at around RMB 8,500-8,700/mt ($1,269-1,299/mt). Meanwhile, export offers of FeMn65Si17 are standing at $1,620/mt FOB.
After the National Day holiday, manganese alloy inventory at domestic steel mills has been relatively plentiful. Accordingly, purchases by steel mills have decreased, with few transactions seen. In addition, with the end of power rationing in southwestern China, market supply has increased, leading to the decline of mainstream offer levels in the manganese alloys market. In addition, the sluggishness of the import manganese alloy market may cause overseas offers to drop down.
During the past week the Chinese ferrosilicon market has decreased. Current ex-works prices of ferrosilicon (75 percent) in most of China, as in Ningxia Hui Autonomous Region and in the provinces of Gansu and Qinghai, stand at RMB 7,700-8,000/mt ($1,158-1,203/mt), down RMB 100/mt ($15/mt) week on week, despite the high offers registered in the Inner Mongolian Autonomous Region at RMB 8,000-8,300/mt ($1,203-1,248/mt) due to the local power rationing policy. Meanwhile, export offers of ferrosilicon (75 percent) from China are standing at $1,600-1,650/mt FOB, with few transactions.
Since the steel mills have not returned to the ferrosilicon market for purchases after the National Day holiday, market demand and the number of transactions are low. Moreover, spot supplies from manufacturers all over China have increased, and so mainstream prices have started to decline, especially in Ningxia Hui Autonomous Region and in the provinces of Gansu and Qinghai. In the coming period, the trend in the domestic market may switch from decline to stability due to the current power rationing measures in the Inner Mongolian Autonomous Region.