Prices in the international market remained almost unchanged this week. Manufacturers globally are expected to hold the offers at the current level in the following weeks.
Silico Manganese in Europe did
not see any further price drops from last week. However, market players see a
potential fall of EUR20-30/MT in June if end user activities continue to be
slow. According to a top official, from a major manufacturing company, “Europe
is in a holiday mood. Buying interest is very low and prices are not very
attractive. It may continue to show the same trend in the coming weeks also.”
European low carbon Ferro Chrome market also didn't see any
changes in the pricing this week despite a continued quiet market. European
sources expect the price for the material to remain stable in the next two
weeks, with a possibility of marginal declines, as end user purchasing activity
is likely to remain slow before Q3 supply contract negotiations start.
Chinese Silico manganese
60/14 market sees few deals concluded due to the slow demand from the
downstream market and spot prices have declined slightly to promote sales for
the time being. Some producers disclose that they plan to shut down in order
to reduce losses. The prices are in the range of RMB 5,900-6,000/MT ex
works VAT excluded for the material.
Prices in the US Silico manganese
market remained steady and is expected to hold the present levels in the near
future as no major change in demand from downstream sectors is seen. According
to US participants, rates for 65/17 silicomanganese holds at USD 0.69-0.72/lb;
no change compared to last week. Some minute weakening may take place due to
quiet buying that looks to persist during the summers.
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