- Southern production cuts tighten low-priced spot supply
- Weak steel demand, falling coke prices limit further gains
Chinese silico manganese prices showed mixed movement after the Golden Week holidays. The Mn 65%, Si 17% grade remained unchanged w-o-w at RMB 5,650-5,950/t ($844-889/t) exw in the assessment week ended 12 October 2026, while the Mn 60%, Si 14% grade fall by RMB 80/t ($12/t) w-o-w to RMB 5,360/t ($801/t).
Market updates
Weaker raw material prices reduce cost support: Chemical coke prices have started falling after the holidays, with further reductions expected. Manganese ore prices at Tianjin Port remained low, while high port inventories and weak restocking demand limited the scope for a rebound. These trends were reducing cost support for silico manganese producers.
Southern production cuts tighten low-priced spot supply: Production shutdowns at major southern silico manganese producers have tightened spot supply and supported prices. However, northern production remained steady.
Meanwhile, steel mills were focused on using existing stocks rather than buying more. September tender prices rose, but procurement volumes fell, and mills remain cautious about higher prices.
Outlook
Silico manganese prices are expected to remain largely stable, as southern production cuts offer support while weak steel demand and falling coke prices limit gains.
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