SHANGHAI, Apr. 16 (SMM) –
Manganese Ore Market:
Inquiries at ports increased, so did sales volumes, SMM’s survey has found. Although a few traders cut offers slightly, most held quotes stable due to two reasons. First, manganese alloy producers in south China will likely step up production after the rainy season arrives in May, which will improve manganese ore demand. Second, there have been signs of improvement in silicomanganese alloy market recently. In this context, many market players are expecting manganese ore prices to stabilize.
Silicomanganese Alloy Market:
Silicomanganese alloy producers in south China have limited finished product inventories on hand. This allowed some producers to raise offers slightly. Market supply and demand are now approaching a balance following massive production cuts earlier. As such, the near term may see a rebound in silicomanganese alloy prices.
China produced 2.27 million of crude steel on average each day in March. The country’s crude steel output during March totaled 70.25 million mt, up 2.2% YoY, according to the National Bureau of Statistics (NBS).