Europe:
Silico Manganese prices fall by EUR10/MT to trade at EUR 940-990/MT DDP. Local
sources expect the downward pricing trend to continue in the coming weeks until
end users return to the market for bulk purchases in September.
Trading
volume for Ferro Manganese remained low and the current price for European high
carbon ferrochrome 62% min is hovering between USD1.10-1.15/lb Cr in warehouse
Rotterdam i.e. no significant change compared to the prices seen last week.
China: Spot prices for Silico
Manganese 65/17 and 60/14 have touched the bottom line. Some producers
stated that they are bearing heavy losses and hence, most of the producers have
decided to reduce their output. 65/17 and 60/14 are quoted at RMB 7,200-7,450/MT
ex works VAT included and RMB 5,700-5,800/MT ex works VAT excluded,
respectively.
Ferro
Silicon market also moved slowly and the demand from end-users was still quiet.
Market participants believe the mainstream price of ferrosilicon may decrease
again in the coming weeks. Last week most deals were concluded at around RMB 6,150/t
ex works for ferrosilicon 75%min.
US: Demand in the US silico manganese
market has picked up slightly after traders lowered their offers to help
attract buyers. Silico manganese 65/17 fell to USD0.61-0.64/lb; a USD0.03/lb
decline compared to last week.
However,
market players in US are showing concern for the domestic Ferro Silicon market
and see further downside risk as only small, hand-to-mouth deals are being
booked. The price for Ferro Silicon 75%min is quoted at USD0.89-0.91/lb; a
USD0.01/lb decrease compared to early this week.
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