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Weekly Review of Silicon and Manganese Market (6.24 to 6.28): steel moves encourage high prices to be eager to try
Jun 28,2019 18:35CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

This week, the silicon and manganese market ushered in good steel moves, the first tender of Nanjing Iron and Steel to bring confidence to the market, many alloy manufacturers have to raise their quotations and high-priced steel moves.

Week out, silicon manganese quotation appears to be very calm, no low price quoted no high price trial, waiting for the steel move; After the launch of Zhouzhongnan Steel, the high price of 7900 yuan per ton slightly exceeded the market expectations, and then the upper limit of silicon and manganese quotations was raised again, and many manufacturers raised the quotation limit to 7600 yuan per ton (cash ex-factory price). Traders also maintain a small bullish short-term price against this high price background, and the mentality of taking goods and asking for quotations is relatively considerable, but some in the industry say that the price is inflated, and at the same time, Tangshan area will be affected by production restrictions. The expectation of short-term terminal market is good; Near the weekend, the price of Hegang is generally set at 7800 yuan / ton as expected, and the market reaction is relatively calm.

At present, the profit prospect of manganese alloy market is very good, and the national production cost in June is about 90 yuan / ton lower than that in May, mainly due to the low price of manganese ore, the reduction of electricity price in some areas and the fall of coke price. At the same time, according to SMM statistics, the start-up rate in late June was significantly boosted, and the production of silicon and manganese increased by 7% throughout June. At present, spot and inventory may not be as lacking as the market thought, and inventory in the hands of southern traders has gradually emerged. Coupled with the implementation of production restrictions in steel mills, the supply and demand of alloys in the future is worth thinking about.

 

Weekly Review
Silicon and Manganese. Silicon manganese alloy

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