Price trend
On the 12th, the transaction price of domestic silicomanganese (FeMN68Si18) in the main plant area of Ningxia was between 12,000-13,000 RMB/ton.
Analysis review
Before the holiday, HBIS Group’s October bidding price for silicomanganese was finalized, and the market direction became clear. After the holiday, other steel mills used this as a reference to make purchases one after another, and the overall market was basically operating steadily. The spot supply of enterprises is still tight, there is a certain gap in the market, and overall demand may increase significantly.
There was news on the 11th that the power restrictions in Guangxi and Guangdong provinces have been relaxed: Guangxi will not have power restrictions within a week, and the site will use electricity normally; some electric furnaces in Guangdong are open but there are still staggered production conditions, and the electric furnace plants in Guangxi are basically fully open a and the furnace is normally opened for about a week.
On the 12th, the price of silicomanganese in Ningxia was between 15,000-16,500 RMB/ton, but the transaction price was between 12,000-13,000 RMB/ton.
Market outlook
Comprehensive consideration, the short-term domestic spot price of silicomanganese will remain high.
