Chinese silico manganese prices remain unchanged w-o-w on slow market movements

Prices of silico manganese in China remained unchanged w-o-w as the market was dull and some producers also reduced their production. The prices were at around RMB 6,310/t to 6,410/t ($879/t-$893/t). All prices were ex-works and inclusive of taxes.

The market operated with an average performance this week. Moreover, market activities were slow. Prices remained steady as factories sold less quantity, and the steel industry also purchased less. With the upcoming Spring Festival, the market stayed slightly inactive. Some factories in the south even reduced or stopped production.

The market for manganese ore remained cautious, with minimal trades that happened. But, the railway track between the ports in Gabon has been fixed, so the transportation of manganese ore will be smoother. This might lead to higher prices for the ore in the future.

The futures market for silico manganese stayed weak as traders in the industry were careful with their decisions, and the trading of alloys was just average. However, as the steel industry starts to pick up, there might be more demand for silico manganese.

Outlook

With the mines operating smoothly and factories reducing production, we might see some changes in the future. But for now, it looks like silico manganese prices will stay the same for a little while longer.

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