Fastmarkets assessed the price of silico-manganese, 65% Mn min, max 17% Si, in-whs China
at 5,700-5,800 yuan ($810-824) per tonne on December 6, narrowing upward by 100 yuan from 5,600-5,800 yuan per tonne a week earlier.
The recent uptick comes despite Hebei Steel, China’s second largest steel mill, announcing a month-on-month cut of 150 yuan per tonne to its silico-manganese tender price for Delivery-delivery
. This follows a 1,200-yuan-per-tonne cut to its tender price for November-delivery cargoes
“Prior to the release of the tender price [from Hebei Steel], many market participants had been taking a watchful stance. Some alloy smelters, who were bearish about the near-term market outlook, lowered offer prices to destock and generate cash in fear of steeper dips in the coming weeks,” a Chinese market participant said.
But Chinese alloy plants are now choosing to either hold off from offering or to...