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China: Silico manganese prices remain firm w-o-w on cautious market sentiments

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Silico Manganese

BigMint Bureau

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13 Jan 2025, 18:33 IST

China: Silico manganese prices remain firm w-o-w on cautious market sentiments

Spring Festival to impact SiMn demand

ZCE silico manganese futures inch up

CBC: Chinese silico manganese (Mn: 65%, Si: 17%) prices were unchanged w-o-w at RMB 6,030-6,430/t ($822-$877/t) exw, including taxes. The silico manganese market remained stable amid cautious sentiments. Manganese ore operations were steady, and demand was moderate. With the Spring Festival (29 January 2025) approaching, manganese alloy demand was moderate, but logistics constraints weighed on it.

Factors keeping prices stable

Stability persists in manganese ore market: The manganese ore market was generally stable, with some low-priced, light transactions observed. The overall market showed mixed sentiments, with a growing wait-and-watch atmosphere. Alloy demand was decent amid the approaching Spring Festival, but logistics constraints exerted pressure on the market. Despite this, there was adequate cost support for silico manganese prices.

In the short term, the manganese ore market is expected to remain stable, influenced by alloy manufacturers' purchasing activities, replenishment trends, and the destocking situation at ports.

Subdued downstream demand: Downstream demand was subdued this week. With demand expected to remain weak in the short term and factories reluctant to sell at low prices, the market is expected to continue exhibiting cautious behaviour. As it is the traditional off-season, alloy usage remains low.

Additionally, power restrictions and peak production policies in Inner Mongolia and Ningxia continued to impact silicon manganese alloy output.

ZCE prices inch up: Silico manganese futures on China's Zhengzhou Commodity Exchange (ZCE) for May 2025 delivery saw a slight rise of RMB 272/t ($37/t) to RMB 6,340/t ($865/t) on 13 January against RMB 6,068/t ($828/t) on 6 January.

Outlook

As the Spring Festival holiday nears, silico manganese demand and pricing will be affected, with potential short-term adjustments influenced by steel mill bidding.