China's silico manganese prices remain stable amid optimistic market outlook

Chinese silico manganese prices (Mn: 65%, Si: 17%) remained stable at roughly RMB 6,590-6,690/t ($905-$918/t), with an average price of RMB 6,640/t ($912/t). The Silico manganese market remained stable, with an average trading environment. The market is upbeat about the coming weeks. The prices of manganese ore and coke, which are used to create silico manganese, remained unchanged, implying that the cost of making silico manganese remains supported.

The manganese ore market remained stable as well. The Gabon port's railway track between Ovindo and Franceville has been repaired, therefore the port inventory will continue to fall. This, together with external support, will keep manganese ore prices stable.

In terms of silico manganese demand, the futures market is currently weak and volatile. This made operators wary about making deals. However, as the steel sector expands, there is potential for increased demand. Suppliers are also eager to increase their prices. In the medium run, keep a watch on the market's low-price transactions and how the supply and demand for silico manganese evolve.

Outlook

Overall, industry participants are motivated to maintain pricing stability. The silico manganese market is now cautious. The low cost of generating silico manganese is supported by the coke market's strong performance. However, due to the poor demand, there were not many actual transactions. Traders are cautiously hopeful about the future of the market. The silico manganese market is expected to stay stable in the immediate term.