Chinese silico-manganese price falls on subdued buying appetite, falling futures

China’s spot silico-manganese price slid in the week to Friday May 29 in response to some alloy smelters slashing offer prices to facilitate sales and generate cash after buying appetite was dented by falling futures.

Fastmarkets’ weekly price assessment for silico-manganese, 65% Mn min, max 17% Si, in-whs China was 6,700-6,800 yuan ($939-953) per tonne on May 29, down by 100-200 yuan per tonne (2.2%) from the previous assessment of 6,800-7,000 yuan per tonne, a level held since April 24.
The spot alloy market was inactive last week with a limited number of buyers, including steel mills and alloy traders, willing to place orders amid price declines in the futures market, according to market participants.

The most-traded September silico-manganese contract on the Zhengzhou Commodity Exchange closed at 6,768 yuan per tonne on May 29, down by 312 yuan per tonne from a close of 7,080 yuan per tonne on May 22....


Amy Lv

June 02, 2020

05:15 GMT