Chinese silico manganese prices experience stabilization post-Lunar holidays

Prices of silico manganese in China remained unchanged as the lunar holidays recently got over. Prices were at around RMB 6,310/t to 6,410/t ($877/t-$891/t). All prices were ex-works and inclusive of taxes.

The Chinese silico manganese market exhibited moderate activity following the Spring Festival holiday, reflecting a cautious post-holiday environment.

• Trading sentiment remained average as factories gradually resumed operations after the holiday break. The market adopted a wait-and-see approach, awaiting further clarity on demand trends.
  
  
• The manganese ore market, a key raw material for silico manganese, saw sluggish movement. However, a positive development emerged with the repair of a railway track in Gabon, facilitating renewed ore transportation. This could potentially lead to future price increases.
  
  

Silico manganese demand remained lukewarm, with traders exercising caution in their transactions. This cautiousness likely stems from uncertainties surrounding the post-holiday recovery pace.

Despite the current moderation, market participants remain hopeful of a rebound in demand as steel production picks up. Traders anticipate a more active market in the coming weeks.

Outlook

The current market environment is characterized by a wait-and-see approach, with traders cautiously observing developments before making significant moves. This suggests a potential for continued near-term stability, as participants hold back from decisive action until clearer direction emerges.

Note: This article has been written in accordance with an agreement between CBC and SteelMint.