SteelOrbis has been informed that Chinese traders' silicomanganese (FeMn65Si17) offers to the export markets are standing at the level of $1,560-1,600/mt FOB on actual weight basis, including export duty and for October shipments. China's export duty for silicomanganese stands at 20 percent.
Influenced by the national policy of energy saving and emission reduction, the regions that produce silicomanganese alloys have been affected by electricity restrictions, leading to reduced output and lower inventories. Traders and producers have started to raise their prices significantly, with the quotations of silicomanganese alloys up by RMB 500/mt within a single week, followed by the increase of export prices.