Chinese SiMn suppliers drive prices upwards in East Asia

Chinese silico-manganese exporters are making a determined bid to drive prices towards the $500 per tonne cif level for deliveries to Asian neighbours Japan and Korea.

“China doesn’t have much incentive to export,” mused a manganese alloy trader in Hong Kong. “Why transport the material to port and wait a couple of weeks to cash in when you can sell [to domestic steel mills] for cash, straight from the furnace?” Another trader added: “It’s a very simple logic: only if the export price is better than the domestic market will smelters choose to export.” But demand is growing in East Asia and China is...

Published

May 29, 2003

11:27 GMT

Singapore