China
Silico Manganese market remains dull with spot prices being stable at the current level. Demand remains slow for both silico manganese & high carbon ferro manganese. Bidding prices
released by major steel mills also decline further for October.
Baosteel released the purchasing price of high carbon
ferro chrome 50% for October at RMB7,100/t delivered with cash payment, down by
RMB150/t compared with September.
JISCO also adjusted the payment terms for high carbon
ferro chrome purchase for October to cash payment instead of acceptance draft in
order to maintain long-term relationship with suppliers and ease the cash flow
pressure for ferrochrome producers.
Europe:
European silico manganese
prices remained unchanged after reporting a slight improvement two weeks ago, European sources saw no further uptick in demand
for the material and saw a flat pricing trend last week. The
mainstream price for European silico manganese 65/17 ranged between
EUR930-980/t DDP i.e. no change compared to the price seen last week.
“I think that end users are still buying hand-to-mouth, so
they bought the material for September and October consumption in the past two
weeks or so, and now having enough material and will not return to the market
until next month, said a Northern European trader.
The current price for European high carbon ferro chrome
62%min also ranged between USD0.93-0.98/lb Cr in warehouse Rotterdam i.e. unchanged compared to the price reported earlier.
Ukraine
Market for Silico manganese in Ukraine is facing pricing
pressure as demand remains weak. According to a exporter, “A recent tender of
Silico Manganese 70/16 was heard being concluded at $1150/MT. Moreover, 2-3
furnaces of a major manufacturing unit has been shut down. So, production level
is also low.”
Leave a Reply