Silico Manganese prices in Europe fell by EUR 20/MT after
reporting a severe downward pressure on the pricing last week. Market players say
that prices may fall further this month as Summer Holidays in Europe has kept
the buying interest low.
Silico Manganese 65/17 in Europe is hovering between EUR 980-1,030/MT DDP, a drop
of EUR 20/MT compared to price reported last week.
A Central European based trader said, the slow end user demand has caused many
traders to lower their offer prices in an attempt to secure business in the
thinly traded market. He added that if the market sees no sign of
improvement in demand after lowering the offering price this week, some traders
may further lower their offer prices in the coming weeks.
“At the moment, there is plenty of material available in the
European market, and I know that there will be more arriving in late June, and
this will place further pressure on the pricing trend, maybe pushing the price
to EUR940-960/t DDP and maybe even lower in August,” commented another Ferro
Alloys trader in Europe.
A Northern European based trader concluded a sale of 100 MT
of Indian origin Silico Manganese 65/17 at EUR 1,020/MT DDP Northern Europe
plant last week. He added that he is likely to lower his offering price to
below EUR1,000/MT DDP next week.
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