- Elevated manganese ore, logistics costs support prices
- Mills continue need-based buying amid ample inventories
Chinese silico manganese prices (Mn 65%, Si 17%) remained stable w-o-w at RMB 5,950-6,250/t ($873-917/t) ex-works. The market held steady, supported by emerging supply tightening due to production cuts, while cautious demand conditions kept overall price movement limited.
Market updates
Supply tightening, cost pressures support market: Supply showed signs of contraction as some producers announced output cuts, while elevated manganese ore prices and higher logistics costs continued to exert pressure on production costs. Firm offers from miners and stable port prices supported the raw material market, though consumption may ease slightly amid alloy production cuts.
Gradual demand recovery keeps sentiment cautious: Downstream steel demand is gradually recovering, supported by improving mill operations and ongoing tender activity. However, procurement remains largely need-based, with sufficient inventories limiting aggressive buying. Market participants maintained a cautious stance, with trading activity remaining moderate.
Outlook
Silico manganese prices are expected to remain stable with limited fluctuations in the near term, as supply tightening and cost support are offset by gradual demand recovery and cautious procurement trends.
(With inputs from CBC)
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