Manganese Alloys and Ore Market Report January 2017
2017-09-15 16:34:38 【Print】
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The silicomanganese market witnessed continuous declines in prices during the month. By the end of the month, mainstream prices for silicomanganese 65/17 had dipped to RMB7,100-7,300/t (USD1,034-1,063/t) by cash VAT included ex works with transaction prices for the material even sliding by RMB900/t (USD131/t) from early this month to below RMB7,000/t (USD1,020/t) in Ningxia, while those for silicomanganese 60/14 decreased by RMB400/t (USD58.26/t) to RMB5,600-5,800/t (USD816-845/t) by cash VAT excluded ex works. As prices for manganese ore and coke moved down and suppliers needed to recoup funds at the end of the year, silicomanganese prices continued to decline. However, the price competition failed to boost the market. On the contrary, buyers became more cautious about making replenishment, resulting in sparse spot transactions.
In January, prices for manganese ore went down continuously. Consumers became more prudent and made procurement when prices moved up, but waited on the sidelines when prices moved down with most of them holding minimum stocks to meet rigid demand. Concluded prices were lower than mainstream offers as traders lowered prices to stimulate sales with the aim of recouping funds. Consequently, the market was in chaos. With the softening of importing prices, the spot market is likely to witness a new round of price declines.
In January, prices for manganese ore went down continuously. Consumers became more prudent and made procurement when prices moved up, but waited on the sidelines when prices moved down with most of them holding minimum stocks to meet rigid demand. Concluded prices were lower than mainstream offers as traders lowered prices to stimulate sales with the aim of recouping funds. Consequently, the market was in chaos. With the softening of importing prices, the spot market is likely to witness a new round of price declines.
