- Manganese ore market sees low-priced sales
- Downstream demand weak, futures subdued
CBC: Chinese silico manganese (Mn: 65%, Si: 17%) prices rose by INR 400/t ($56/t) to RMB 6,430-6,830/t ($880-$935/t) exw, including taxes. Silico manganese prices were on the rise post-holiday break, but the market remained cautious, with participants adopting a wait-and-see approach.
Manganese ore market shows stability with light transactions: The manganese ore market showed moderate performance, with some low-price sales observed. Overall, prices remained stable, though the market sentiment was mixed, leading to a heightened wait-and-see scenario.
Transaction volumes were light, but cost support for silico manganese persisted. In the short term, the manganese ore market is expected to consolidate, with focus on manufacturers’ purchasing activities, replenishment efforts, and port destocking trends.
Weak downstream demand: Downstream demand remains weak, with futures expected to stay subdued in the short term. Factories are hesitant to sell at high prices, and industry players are adopting a cautious approach. As the market is in its traditional off-season, alloy usage is minimal. Additionally, power restrictions and peak production policies in Inner Mongolia and Ningxia continue to limit silicon manganese alloy output, contributing to pessimism about future market trends.
ZCE prices diminish: Silico manganese futures on China’s Zhengzhou Commodity Exchange (ZCE) for May 2025 delivery declined by RMB 302/t ($41/t) to RMB 6,438/t ($881/t) on 10 February against RMB 6,740/t ($923/t) on 20 January 2025.
Outlook
The silico manganese market anticipates a cautious outlook, with weak demand from steel mills and low silicon manganese futures. Manganese ore prices remain stable, supporting the market. Price consolidation is expected as inventory decreases, with attention on steel mill bidding trends.
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