Chinese Silico Manganese Prices Rises on a Confluence of Factors

Since the beginning of August 2018, the Silico Manganese market has reflected a markedly strong trend, and prices have risen steadily. The latest data reveal that the spot price of Silico Manganese 65-17 in various regions has increased by Rmb800/ton (USD 118/MT) from the beginning of the month, and the current mainstream price is between Rmb8700-8800/ton (USD 1,280-1,290/MT) with some higher quotations reaching RMB 9000/ton (USD 1320/MT).

On the one hand, the inventory in the factories continues to be tight, while on other hand, the price of Manganese Ore remains firm. During the same period, major steel mills floated a new batch of tenders for Silico Manganese in advance. Prices have been moving up on bullish sentiment, and buyers are accepting high prices. Such a situation has created panic in the market, with buyers trying to stock up the commodity fearing that price rise may further intensify.

On August 23, the price of Silico Manganese 65-17 was stable on the D-o-D basis. Prices in Henan, Hebei, Shandong, and Jiangsu are in the range of Rmb8915-9161/ton (USD 1310-1346/MT), inclusive of tax.

Manganese ore market

Since the price of Silico Manganese 65-17 has been rising, the confidence of ore traders has received a boost, and the overall quotation has been rising, though the actual transaction is relatively thin under a wait-and-watch attitude adopted by most purchasers. The price of Manganese Ore today is as follows: