Market Participants Generally Hold a Bearish Opinion on SiMn Alloy Prices in March

SHANGHAI, Mar 22 (SMM) - SMM has surveyed more than 60 domestic SiMn alloy companies, traders, and steel mills with regard to their views on the price outlook for March.

According to SMM survey, the market participants generally hold a bearish opinion on SiMn alloy prices in March. Even with the improved market transactions of rebar, 31% of industry players are bearish on the SiMn alloy prices in the future market as steel mills are cautious in purchasing. Steel mills continue to lower their purchase prices, which may weigh on SiMn alloy prices. 23% of the operators are bullish on the future prices. They think that although the manganese ore prices have fallen slightly, the prices are still at a high level. Coupled with the rising electricity prices in Ningxia and Guangxi, the SiMn alloy prices will be supported by the costs. In addition, they are optimistic due to the favourable policies released after the important meetings, which may elevate the prices of silico-manganese slightly. 29% of the market participants surveyed believe that the prices will remain flat as steel mills still suppress the SiMn alloy prices on poor profits. However, due to the cost pressure, they also suggest that the SiMn alloy prices are unlikely to fall sharply. The remaining 17% are unsure about the market outlook.