SHANGHAI, Apr. 9 (SMM) –Quotations for #6014 silico-manganese alloy were high on April 9th from some suppliers in South China, with low-priced goods rarely seen in markets. Mainstream offers for SiMn6014 (excluding tax) were between RMB 5,950-6,000/mt.
According to SMM sources, operating rates at #6014 silico-manganese alloy producers in South China have remained low for a long time on account of rising imported ore prices. Nevertheless, as downstream demand increased slightly in recent days, some #6014 silico-manganese alloy suppliers quoted high prices tentatively, resulting in a drop in low-priced goods. However, due to the prevailing losses at steel plants, factors that dampen prices exist. Combined with limited growth in demand, mainstream traded prices for #6014 silico-manganese alloy remained little changed.
As BHP has raised quotations for manganese ore heading for China in May, domestic cargo-holders at ports had strong intention to ask for higher prices, with quotations for goods from South Africa and Australia also experiencing rises of RMB 0.5-1/mt. However, as #6014 silico-manganese alloy uses a relatively larger proportion of non-mainstream ores, #6014 silico-manganese alloy prices are little affected by the increasing imported manganese ore. Even if there is any impact, it's expected to be comparatively sluggish. As such, SMM holds the view that #6014 silico-manganese alloy prices have limited rising room during April and will remain stable.