China: Silico manganese prices hold steady w-o-w amid weather-related supply disruptions

Silico manganese market in China operated cautiously and the prices were stable due to the delayed supplies. Domestic silico manganese (Mn: 65%) acceptance offers were at RMB 6,360-6,460/t ($890-$904/t). All prices were exw, including tax.

Traders exercised caution in their operations, considering the delayed supply in the market. Additionally, adverse weather conditions posed challenges in goods transportation, resulting in reduced enthusiasm among factories to sell at lower prices.

In terms of the materials essential for silico manganese production, the manganese ore market experienced a recovery, partly attributed to transportation issues and increased costs for manufacturers. This led to a slight uptick in prices.

Meanwhile, the futures market displayed weakness as traders approached their business endeavors with caution. Nevertheless, with the continuous growth of the steel industry, there could be heightened demand for silico manganese in the future.

Outlook

The cost of making silico manganese went up because of higher transportation costs. As a result, the market participants were hesitant in selling at lower prices. Overall, it is expected that the silico manganese market would stay stable for now.