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Chinese domestic silicomanganese price under pressure

It is reported that domestic SiMn alloy price stalls with tight spot supply and low purchases. Imported Mn ore still goes dull while export remains slim. Current FeMn65Si17 is priced at CNY 6550 per tonne to CNY 7050 per tonne and FeMn60Si14 at CNY 5300 per tonne to CNY 5900 per tonne while FOB quotation stays at USD 1000 per tonne to CNY 1150 per tonne.

At present, most SiMn plants stay at maintenance with 90% closed in the north and 50% in the south. Meanwhile, steelmakers purchase at a low quantity in April so market holds balanced. However, most SiMn producers are at a loss of unclear trend. Import price is also hard to fix, leading traders and makers to hold out.

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