CBC: Chinese silico manganese (Mn: 65%, Si: 17%) prices were largely stable w-o-w, with just a slight decline of RMB 50/t ($7/t) observed. Prices settled at RMB 5,880-6,150/t ($806-$843/t) exw, including taxes.
The silico manganese market remained largely stable with minimal price changes. A slight rebound in futures and gains in black series boosted sentiment. However, spot prices stayed low, with attention on whether the futures rally can persist.
Market updates
Manganese ore market remains flat: The manganese ore market remained in a phase of consolidation. Some products were traded at low prices, though the general pricing level remained stable. Market sentiment was mixed, with participants adopting a cautious, wait-and-see approach. Transaction volumes were limited, yet cost support for silico manganese alloys continued. In the short term, market watchers are focusing on manufacturer procurement patterns and port inventory reduction.
Demand slows during seasonal lull: Downstream demand remained weak due to the ongoing traditional off-season. Alloy consumption has decreased, and factories are hesitant to purchase at higher prices. Futures remain soft, and operations across the supply chain are marked by caution and reduced activity.
Production curbed by regional policies: Power restrictions and peak-shaving production policies in Inner Mongolia and Ningxia are constraining output levels. These measures have had a noticeable impact on the supply of silico manganese, reinforcing a subdued market tone. The outlook remains cautious, with limited expectations for near-term improvement.
ZCE futures inch down: Silico manganese futures on China’s Zhengzhou Commodity Exchange (ZCE) for May 2025 deliveries dropped by RMB 76/t ($10/t) to RMB 5,946/t ($815/t) on 14 April against RMB 6,022/t ($826/t) on 07 April.
Outlook
The silico manganese market is likely to remain volatile in the short term amid weak demand, high inventories, and potential supply disruptions. A rebound in manganese ore prices and global trade shifts may offer limited upward support, but caution prevails.
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