【Weekly Review】

 （12.21-12.25）

Ferro-alloys.com：

【Factory】：Siliconmanganese prices have risen this week

The futures market was generally positive this week. The silicomanganese 2105 contract rose sharply on Monday, which rose nearly 2.5% to 7088 points and 6806 points, and closed at 6944 points. The next day it fell by nearly 3%. Since then, it has shown an upward trend every day. As of press time today, it has risen by 0.67%, reaching a maximum of 6966 points, a minimum of 6820 points, and closing at 6882 points. The difference between the highest and lowest of the week was 470 points.

In terms of spot, in terms of the current market, most alloy plants are still implementing delivery orders, and said that the retail resources available for retail are relatively small, coupled with the continued environmental protection in Ningxia, and the increase in electricity prices in the main production areas in the south. The production status of silico-manganese manufacturers has made the market silico-manganese spot supply side expected to continue to be tight. In addition, the prices of raw materials such as manganese ore and coke have been stabilized to support the overall market. The overall market is strong. With positive information dominating the situation, the silico-manganese alloy market has been operating strongly recently and the price has risen. This week, the domestic price of silico-manganese has increased by 300-400 yuan/ton.

In terms of manganese ore, the external quotations have risen, and miners have a strong reluctance to sell at low prices. The industry as a whole is more optimistic. In addition, the overall silico-manganese alloy market is operating well, so the current manganese ore market continues to maintain a steady upward trend. Manganese miners are more optimistic about the market outlook, but the short-term market still needs downstream transactions to follow up.

As of this Friday, Si-Manganese 6517# in Inner Mongolia is quoted at 6600-6700 yuan/ton, Si-Manganese 6517# in Ningxia is quoted at 6500-6600 yuan/ton, Si-Manganese 6517# in Guangxi is quoted at 6500-6600 yuan/ton, and Si-Manganese 6517# in Chongqing is quoted at 6600-6700 yuan/ton, and the price trend this week is shown in the figure：

1、Price Quotation(Silicon Manganese)

【Steel Mills】

Hegang Group’s December bid for silicon and manganese was 6,350 yuan/ton, and the mining volume was 24,400 tons, an increase of 1,800 tons from November. Xiangtan Iron & Steel's January 2021 silico-manganese 6517 bidding price has been finalized for acceptance at 7,200 yuan/ton including tax, which is a significant increase of 500 yuan/ton from the previous inquiry price of 6,700 yuan/ton, and the purchase quantity is 10,000 tons.

2、Price Quotation(manganese ore)

(1)、The northern port CNY/mtu

(2)、The southern port CNY/mtu

【Manganese Ore】：Recently, the silico-manganese alloy market is going well,and the manganese market is flooded with good news. Xiangtan Iron & Steel's January 2021 silico-manganese 6517 bidding price was finalized at 7,200 yuan/ton, which is a substantial increase of 500 yuan/ton from the inquiry price.The manganese ore market is also rising steadily situation. The external price of manganese ore has been raised, miners are reluctant to sell at low prices, and the industry's mentality is relatively optimistic, and the overall market outlook is relatively optimistic. Next, the spot price of manganese ore is likely to continue to rise steadily, but what is the final trend requires close attention to the changes in the bidding situation of other steel plants and the relationship between supply and demand in January.

3、Quotation of Mainstream Mines

4、Port inventory of Manganese ore

As of December 25, 2020, the total inventory of manganese ore in Tianjin Port was 5.511 million tons.

(Among them: bulk cargo-5.361 million tons and containers -150,000 tons)

Arrivals this week: 542790 tons (12.18-12.25)

In Summary: In the short term, the silicomanganese alloy market will continue to run firmly, and prices may still rise. As for the later trend, in addition to paying close attention to the January silico-manganese alloy bidding by iconic steel companies, changes in supply and demand, raw material price trends, and futures performance cannot be ignored.

• [Editor:zhaozihao]