As the upstream and downstream activities of the industry slow down, China’s silicon manganese traders are pessimistic about the market. At present, the mainstream transaction price of silicon manganese 65/17 in China is 5,800-6,000 yuan/ton of factory cash. Industry insiders predict that prices will remain at low levels in the future.
A trader in northern China revealed that their current offer for silicon manganese 65/17 is 5,850 yuan/ton of factory cash, and they do not accept a lower price. Their most recent transaction was last week, when they sold 1,000 tons at a price of 6,180 yuan/ton in cash, including 200 yuan/ton freight.” Due to the overstocking of steel mills, downstream demand has weakened and the number of tenders has also decreased, “the trader said. Due to weak demand, they expect prices to fall further by 50-100 yuan/ton in the future. The trader expects to sell 1,000 tonnes in March, unchanged from the previous month. They currently have 1,000 tons in stock.
Another trader in northern China said that their current offer for silicon manganese 65/17 is 5,850 yuan/ton, and will not accept a transaction price lower than 5,800 yuan/ton. Their most recent sale was in early March, when they sold 500 tons at 5,950 yuan per ton. In the past two weeks, they have received inquiries at 5,750-5,800 yuan/ton, but no deal has been concluded.
As ferroalloy demand continues to weaken, the trader expects silicon manganese prices to remain low next week. The trader expects to sell 600 tons in March, 200 tons less than last month. They don’t have any in stock at the moment.
