China's manganese alloys market has remained sluggish overall in the past week with few market transactions concluded. Meanwhile, China's domestic ferrosilicon market has entered a relatively stable trend.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Silicon manganese | FeMn65Si17 | Guangxi | 8,500 | 0 | 1,280 | 0 |
Ferrosilicon | FeSi75 | Gansu | 8,850 | -50 | 1,333 | -8 |
In the past week, actual market transaction prices of manganese alloys in China have almost remained stable over the past week, with prices in certain regions of China up slightly. Currently, Chinese domestic market quotations of FeMn65Si17 are at RMB 8,400-8,800/mt ($1,265-1,325/mt), up RMB 200/mt ($30/mt) week on week, with quotations in southwestern China, like Guangxi Zhuang Autonomous Region standing at RMB 8,300-8,500/mt ($1,250-1,280/mt), unchanged week on week. At the same time, the mainstream price of FeMn65 remains at around RMB 8,300-8,500/mt ($1,250-1,280/mt), unchanged week on week. Meanwhile, export offers of FeMn65Si17 are standing at $1,520-1550/mt FOB.
Over the past week, domestic manganese alloy prices have remained stable in general. Meanwhile, producers in some regions in China, especially northern China, have been inclined to raise ex-mill offers due to the rise in costs. Recently, power rationing measures in Shanxi Province and in Inner Mongolia Region have been intensified, and so enterprises there have raised their ex-mill offers, by around RMB 200/mt ($30/mt), but have faced a lack of support from actual market transactions. The manganese ore market has also been sluggish with low demand due to the negative influence of power rationing measures.
During the past week Chinese ferrosilicon prices have been stable in general. Current ex-works prices of ferrosilicon (75 percent) in China stand at RMB 8,800-9,000/mt ($1,321-1,351/mt), unchanged week on week, while export offers of ferrosilicon (75 percent) from China are standing at $1,800/mt FOB.
Over the past week, the low transaction volume recorded in the ferrosilicon market and the easing of production restrictions have prevented Chinese ferrosilicon market prices from picking up. There has been low demand for ferrosilicon from steel mills and magnesium enterprises, while production levels have picked up in Ningxia Hui Autonomous Region and Inner Mongolia Region. Currently, the steel mills are not sure about the future trend of the domestic ferrosilicon market, while implementation of the government policy aimed at saving energy and reducing emissions is expected to be sustained until the end of this year.