- Manganese ore prices hold steady
- SiMn tags on ZCE inch down w-o-w
CBC: Chinese silico manganese (Mn: 65%, Si: 17%) prices were largely stable w-o-w, with a slight decline of RMB 80/t ($11/t) to RMB 6,110-6,510/t ($837-$892/t) exw, including taxes. The market was steady due to cautious sentiments, which stemmed from weak demand.
Factors keeping prices stable
Manganese ore tags hold firm: The manganese ore market was mostly steady w-o-w, with some low-priced sales occurring. A wait-and-watch atmosphere emerged amid stable prices and light trading. Despite this, there was adequate cost support for silico manganese.
Downstream demand stays dull: Downstream demand was weak, with futures continuing to trend down w-o-w. Factories were reluctant to sell at low prices, and market participants adopted a cautious approach. As it is the traditional off-season, alloy usage was low.
Furthermore, power restrictions and peak production policies in Inner Mongolia and Ningxia continue to significantly impact silico manganese output.
ZCE prices inch down: Silico manganese futures on China’s Zhengzhou Commodity Exchange (ZCE) for February 2025 delivery saw a slight decline of RMB 78/t ($11/t) to RMB 6,170/t ($845/t) on 23 December against RMB 6,248/t ($856/t) on 16 December.
Outlook
In the short term, the silico manganese market is likely to remain stable with mild fluctuations, influenced by manufacturers’ purchasing activities, replenishment efforts, and port destocking trends. With weak demand and cautious sentiment, the outlook remains uncertain, given stable raw material prices and subdued steel market conditions.
Leave a Reply