[Ferro-Alloys.com] Silicon manganese 6517 is currently pricing at RMB5,850-5,950/mt in north and RMB6,000-6,100/mt in south, and RMB5,300-5,400/mt for 6014. High carbon ferromanganese 65 is now concentrating on 5,200-5,300/mt. Medium carbon ferromanganese 75C2.0 with low p containing is focusing on RMB8,100-8,200/mt while RMB8,400-8,500/mt for 78C2.0 as well as RMB8,800-9,000/mt for 78C1.5. Low carbon ferromanganese 80C0.7 is traded at RMB9,400-9,500/mt, some even as low as RMB9,100-9,200/mt.

Deteriorating operation rates of manganese alloys in south areas resulted in limiting spot supply, parts of alloy companies in shutdown even tend to purchase products from north to finish contract with steel mills. In north, the situation is totally different. Ample spot supply brought about a cutthroat competition, some small alloys factories were forced to further edge down sale because of lacking regular clients coupled with capital pressure. In fact, given convenient transport, cheap power and rich coal resource, Inner Mongolia attracted more participants to further investment in manganese alloy or expand output in local area.

In short, on the one hand, manganese ore failed to bring about enough cushion on alloys, while on the other hand, there was no positive news on steel mills. Given that into consideration, comparatively ample supply makes alloys participants’ lower anticipation on future market. What’s more, HSBS PMI figure in December of China lowered below 50, representing a downturn economic pressure by the end of year.

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• [Editor:Sophie]