Capacity closure in Ningxia underpins spot prices of silico-manganese

SHANGHAI, Mar 19 (SMM) – Spot prices of silico-manganese alloy remained at highs on Tuesday March 19 after authorities in Pingluo County of Ningxia confirmed closures of local outdated submerged-arc furnaces. 

Producers of silico-manganese alloy with low inventories firmed up offers above average levels, but actual trades were limited. 

As of March 19, it was heard in Pingluo that local government would rescind the order to close 34 ferroalloy submerged-arc furnaces with capacity below 20,000KVA. The closure was slated for implementation by March 20.

On Tuesday March 19, #6517 silico-manganese alloy in Inner Mongolia was mostly offered at 7,850 yuan/mt ex-works on acceptance, little changed from March 18, but up some 100 yuan/mt from a week ago.