China: silico manganese market stays firm amid cautious market outlook

China's silico manganese market stayed stable at around RMB 6,790 to 6,890/t ($932-$946/t) including tax, up by RMB 200/t. On average, it was about RMB 6,840/t ($939/t) including tax.

The silico manganese market remained sturdy this week as most factories did not have enough silico manganese to sell, and some have stopped manufacturing for a while. Because of which, the market prices are staying the same and sellers do not want to sell at low prices. Also, steel bidding prices went up, which kept the market strong.

The market for manganese ore improved recently as the railway track between Gabon's ports has been fixed, so more ore can be transported. But there will still be a period of time before the ore arrives, so the amount of ore available will keep going down. With this and some other factors, the prices of ore might stay high.

However, the futures market stayed unpredictable, and traders were cautious. But with the steel industry growing, there's hope for more demand in the future. Suppliers even raised their prices because they thought demand would go up.

Outlook

It is anticipated that the silico manganese market would stay stable in the near-term.