SHANGHAI, Mar.26 – Silicomanganese alloy market remained weak on Tuesday, and steel mills are starting purchasing silicomanganese alloy for April. Given the depressed steel market and ample supply for silicomanganese alloy, mills were cautious and only purchased at low prices. Most mills reported adequate inventories and only waited for bidding prices offered by Henan I/S.

Mainstream ex-works prices (tax included, by acceptance) for 65/17 SiMn were mainly between RMB 6,800-7,000/mt in north China, and RMB 6,900-7,000/mt in south China, with mainstream traded prices in spot market holding stable. Only several cargo holders sell good at low prices. Despite the rising prices in oversea market, domestic manganese ore prices edged down, and alloy producers only purchased ore in limited amount with strong wait-and-see sentiment.

Mainstream quotes for silicomanganese alloy today: