China Silicomanganese Alloy Market Movement (2013-4-9)

SHANGHAI, Apr. 9 (SMM) – The silicomanganese alloy market remained quiet today. Alloy producers were delivering goods for steel plants. Traders were actively inquiring for their orders received, but procurement prices were pushed down, and combined with the high-water period in south China, most alloy producers took a wait-and-see attitude.

High crude steel output, rising inventories at steel plants and growing trading inventories, and sluggish downstream demand have been weighing down steel prices. According to data from the CISA, daily average crude steel output at its member enterprises in late March was 1.68 million mt, up 0.49% from 10 days ago. Domestic daily average output is expected to be 2.07 million mt, up 0.40%, which will weigh more pressure on the steel market.