China Silicomanganese Alloy Market Movement: Silicomanganese Alloy Market Remains Sluggish Due to Poor Steel Market (2013-3-15)

SHANGHAI, Mar. 15 (SMM) – The steel market remained sluggish as China tightened regulations to the real estate sector, and this depressed steel trader buying interest. Downstream demand for steel leveled with last year. As operating rates at building sites increase, pessimism of steel traders is expected to ease.

Spot silicomanganese alloy prices fell. Spot prices for SiMn 65/17 in Ningxia, Qinghai and Gansu are now RMB 6,800-6,850/mt (including tax, by acceptance); prices in Inner Mongolia and Shanxi are RMB 6,950-7,000/mt (including tax, by acceptance). Mainstream quotes in northeast China remain between RMB 7,100-7,200/mt (ex-works, including tax, by acceptance); mainstream quotes in Guizhou and Yunnan are between RMB 6,900-7,000/mt (including tax, by acceptance).

Prices for SiMn 60/14 in Guangxi are RMB 5,550-5,600/mt (ex-works, excluding tax, by cash); prices for SiMn 60/14 in Guizhou are RMB 5,550-5,650/mt (ex-works, excluding tax, by cash); prices in Hunan are RMB 5,650-5,680/mt (ex-works, excluding tax, by cash);

Mainstream quotes for silicomanganese alloy today: