Traders have been gearing up for increased consumer demand since December when European steelmakers saw a surprising increase in appetite for steel products used mostly in the automotive and construction sectors for early 2021. While there was only a low level of spot business last month and equally small amounts so far in January, it is in February that manganese alloys suppliers expect a considerable upturn in demand from steelmakers.
"The rise in high-carbon ferro-manganese and medium-carbon ferro-manganese has been encouraging higher offer prices for silico-manganese,” one trader in Germany said. “There has been a strong increase in trader demand, probably ahead of expected consumer buying for the longer term in the three months through June."
"There are only low stocks of manganese alloys in Europe," another European trader said. "There is not much seen being...
