Market pessimism lowers prices of silicon-manganese alloy, manganese ore -Shanghai Metals Market

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Market pessimism lowers prices of silicon-manganese alloy, manganese ore 

Price Review & Forecast 02:23:31PM Apr 24, 2019 Source:SMM

SHANGHAI, Apr 24 (SMM) – A pessimistic outlook on purchasing prices of silicon-manganese alloy in the upcoming May tenders by steelmakers lowered spot prices of the material on Wednesday April 24. 

SMM assessed prices of #6517 silicon-manganese alloy in Guangxi at 7,550-7,650 yuan/mt on acceptance on April 24, down 50 yuan/mt from Tuesday April 23. 

In the tenders for May, major steel mills are likely to set purchasing prices at 7,680-7,730 yuan/mt, on acceptance with transportation fees included, a source told SMM. Purchasing prices by China's biggest steelmaker Hebei Iron and Steel Group (HBIS Group) stood at 7,850 yuan/mt in its April tender.

SMM learned that lower prices of alloy reduced prices of manganese ore, with ore prices at Tianjin port posting the greatest decline of 0.5 yuan/mtu, to stand at 56 yuan/mtu as of Wednesday April 24. 

Traders reported high inventories of manganese ore across port warehouses in the south and north as of April 24.

Market pessimism lowers prices of silicon-manganese alloy, manganese ore 

Price Review & Forecast 02:23:31PM Apr 24, 2019 Source:SMM

SHANGHAI, Apr 24 (SMM) – A pessimistic outlook on purchasing prices of silicon-manganese alloy in the upcoming May tenders by steelmakers lowered spot prices of the material on Wednesday April 24. 

SMM assessed prices of #6517 silicon-manganese alloy in Guangxi at 7,550-7,650 yuan/mt on acceptance on April 24, down 50 yuan/mt from Tuesday April 23. 

In the tenders for May, major steel mills are likely to set purchasing prices at 7,680-7,730 yuan/mt, on acceptance with transportation fees included, a source told SMM. Purchasing prices by China's biggest steelmaker Hebei Iron and Steel Group (HBIS Group) stood at 7,850 yuan/mt in its April tender.

SMM learned that lower prices of alloy reduced prices of manganese ore, with ore prices at Tianjin port posting the greatest decline of 0.5 yuan/mtu, to stand at 56 yuan/mtu as of Wednesday April 24. 

Traders reported high inventories of manganese ore across port warehouses in the south and north as of April 24.