- Mainstream grades rise RMB 40-50/t ($6-7/t) w-o-w
- Higher manganese ore costs support prices
Chinese silico manganese prices increased w-o-w, with the Mn 65%, Si 17% grade at RMB 5,560-5,830/t ($827-867/t) exw and Mn 60%, Si 14% prices at RMB 5,320-5,440/t ($791-809/t).
Market updates
Manganese ore costs provide support: Manganese ore prices remained stable to slightly higher as miners held firm on offers and lower-priced material became less available. Coke prices were also stable to slightly higher, while chemical coke prices increased. High electricity costs in northern producing areas continued to keep production costs elevated and put pressure on producers’ margins.
Steel mill tenders improve sentiment: Steel mills continued their bidding process, with tender prices rising further and supporting silico manganese market sentiment. Steel demand is gradually moving towards the traditional peak season, although mills remain focused on immediate requirements and show limited willingness to chase higher prices. Traders are also maintaining low inventories.
Outlook
Silico manganese prices are expected to remain firm with a slight upward bias in the near term. Higher ore costs and firmer steel mill tenders should support prices, while high inventories and possible production resumption may limit the upside.
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