CBC: Chinese silico manganese (Mn: 65%, Si: 17%) prices were steady w-o-w at RMB 5,930-6,200/t ($817-$854/t) exw, including taxes.
A cautious, wait-and-see approach dominates, as futures prices showed a slight rebound and raw material movements reflecting improved sentiment. Spot prices kept on consolidating at low levels.
Market updates
Manganese ore market continues to consolidate: The manganese ore market consolidated, with some products sold at lower prices. Overall, prices remained stable, although light transaction volumes indicate cautious activity, while cost support for silico manganese persisted. The key factors are manufacturers’ purchasing strategies and port inventory levels.
Downstream demand remains weak: Downstream demand remained weak, with futures expected to stay subdued. Factories are hesitant to sell at high prices, and the traditional off-season limits alloy consumption. Power restrictions in Inner Mongolia and Ningxia continue to impact silicon manganese alloy output, contributing to a cautious market outlook.
ZCE futures inch down: Silico manganese futures on China’s Zhengzhou Commodity Exchange (ZCE) for May 2025 deliveries dropped by RMB 48/t ($7/t) to RMB 6,022/t ($827/t) on 7 April against RMB 6,070/t ($834/t) on 31 March.
Outlook
In the short term, the silico manganese market may continue to fluctuate, driven by weak downstream demand, high inventories, and potential manganese ore price rebound. Market participants are likely to adopt a cautious, wait-and-see approach.
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