The prices of silico manganese in China stayed stable as the market movement remained slow due to the Spring Festival. The 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 market for silico manganese remained stagnant with an average trading atmosphere. The prices stayed the same as factories were hesitant in doing trades, and the shipments were also slow. With the Spring Festival coming up, the market stayed unhurried.
However, the prices of manganese ore went up because it was hard to transport them due to bad weather. But now, the railway track has been fixed, so the prices might go down. Also, there will be fewer manganese ore shipments, which could also affect the prices.
On the other hand, the futures market also looked pale as the traders were cautious about buying and selling alloys. However, as the steel industry grows, there might be more demand for silico manganese. So, some suppliers were hopeful about the future of the market. An eye to be kept on the prices and the supply and demand of silico manganese.
Outlook
The silico manganese prices are anticipated to remain steady for now with minor fluctuations.
As with the recent increase in manganese ore prices and less production before the Spring Festival, might change the scenario for the silico manganese market in China.
Note: This article has been written in accordance with an agreement between CBC and SteelMint.