Consumer absence prompts price cuts in European Mn alloys

An absence of consumer buying interest for prompt delivery of manganese alloys in Europe in the past couple of months has prompted suppliers to cut their offers, with markets falling to price levels last seen in August, sources told Fastmarkets.

There has been scant consumer buying interest from the steel sector since the start of November, and with no sign of renewed demand in the near term, manganese alloy suppliers have been cutting their offer prices for several weeks. European manganese alloy prices for delivery on a spot basis have fallen around 20% on average in the past two months.
And on Friday January 7, there were price falls of more than 10% and 4.5% in high-carbon ferro-manganese and silico-manganese prices respectively, with suppliers looking to shift stock from their warehouses.

“Steel mills tend to buy most of their ferro-alloys on annual or quarterly delivery deals, and there was market expectation that they would be back by January to replenish their stocks for the current quarter,” one German trader said. “But that didn't happen,” the trader added, “and it looks like steelmakers have enough stock to last until March,...

Published

Declan Conway

January 10, 2022

14:19 GMT

Galway