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Chinese Silicon Manganese Market Kept Calm before HBIS Tender Settlement

Source: Time:2014-08-04 17:41:59 frequency:

Chinese silicon manganese market remained at slient as HBIS failed to settle August tender on manganese alloys. Price of silicon manganese 6517 is still pricing at RMB6,300-6,400/mt. In terms of market supply, redajustement of power in Guangxi contributed to increasing operation rates in local area, but many producers still hold wait and see attitudes for unclear future market and increasing potential risk.What’s more, extending payment period of steelmakers also aggravated alloy suppliers capital burden, allowing them to hard to accept low sale price. In north, most suppliers also tend to hold price firm given increasing transport fee despit power advantage.

In short, it is estimated that silicon manganese may not show dramatic change in the near future.
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