- Silico manganese futures weaken
- Manganese ore prices remain stable
CBC: Chinese silico manganese (Mn: 65%, Si: 17%) prices were largely steady w-o-w, with a slight decline of RMB 20/t ($3/t) to RMB 5,930-6,310/t ($818-$870/t) exw, including taxes.
The price of silico manganese has remained temporarily stable. However, silico manganese futures have weakened, with the main contract showing increased positions followed by a downward movement. This fluctuation has led to a lack of active quotations from factories, indicating a cautious market sentiment.
Market updates
Manganese ore market soft amid minimal trades: The manganese ore market continued its consolidation phase, with prices stabilising but some products being sold at lower prices. Transaction volumes were lighter than usual. The cost of manganese ore continues to exert some pressure on silico manganese, although it remains relatively stable. The market’s cautious nature has been reinforced by a lack of clarity surrounding future market trends, with several factors, including port inventory and purchasing activities, affecting market dynamics.
Steel mill sustain maintainence schedules: On the production side, some factories are maintaining their regular maintenance schedules, while others, particularly in the southern regions, have halted production due to high operational costs. Steel mills exercised caution in their purchases, reflecting the broader uncertainty in the market. As a result, some factories are adopting a wait-and-see approach, observing how market conditions will evolve before making further production decisions or material acquisitions.
ZCE futures inch down: Silico manganese futures on China’s Zhengzhou Commodity Exchange (ZCE) for May 2025 deliveries declined by RMB 68/t ($9/t) to RMB 6,122/t ($845/t) on 24 March against RMB 6,190/t ($854/t) on 17 March.
Outlook
The outlook for silico manganese remains uncertain, with fluctuating prices and cautious market sentiments. Steel mills may replenish inventory cautiously, while the manganese ore market’s stability may offer some support in the short term.
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