- Prices edge down w-o-w on subdued demand
- Elevated ore costs continue to support market
Chinese silico manganese prices (Mn 65%, Si 17%) edged down slightly w-o-w to RMB 5,930–6,230/t ($867-911/t) ex-works, compared with RMB 5,950–6,250/t ($870-914/t) in the previous week. The market softened marginally, as weak downstream demand outweighed strong cost support.
Market updates
Elevated costs limit downside pressure
Manganese ore prices remained firm, supported by tight port inventories, supply concerns in overseas markets, and rising logistics costs. High input costs continued to pressure producers, limiting their willingness to reduce offers despite weak demand.
Weak demand keeps sentiment cautious
Downstream steel mills maintained cautious procurement, with buying largely restricted to immediate needs amid weak profitability and off-season conditions. Trading activity remained subdued, with limited improvement in demand recovery.
Outlook
Silico manganese prices are expected to remain range-bound with slight downward bias in the near term, as firm cost support offsets weak demand and cautious procurement trends.
(With inputs from CBC)
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