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...


May 29, 2003

11:27 GMT