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Weekly Review of Silicon Manganese Market (10.14-10.18): it is difficult to be optimistic about the trend of 6600 Steel recruitment in the National Market
Oct 18,2019 19:20CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

This week, silicon and manganese prices are still generally showing a downward trend, low quotation increased, high quotation reduced, inventory continues to be high, market participants generally lack confidence.

This week, the average market price is 150-200 yuan / ton lower than last week, the northern region silicon manganese 6517 quoted 68007000 yuan / ton (accept ex-factory price), the southern silicon manganese 6517 quotation 69007000 yuan / ton, and some manufacturers still have room to give way, the current low price is also a normal phenomenon, coupled with the Wuxi incident continues to rise, factory pressure is increasing.

Many manufacturers have told SMM that the price of steel in November needs to be prospected towards the second half of the month, but the industry is generally not confident that the price will stick to 7000 yuan / ton next month (accepted to the factory price). More businesses think that the price will be 6900-6950 yuan / ton next month, and some large steel mills in the north may lower the price again. At the same time, at present, the national market output is stable more than one million tons and inventory exceeds half a month's supply, weakening the bargaining power of manufacturers, and alloy factories are not allowed to make too many pricing operations, and the initiative of steel recruitment will be tightly held by steel mills again in recent months.

Weekly Review
Silicon Manganese
Silicon Manganese Alloy
Manganese Ore

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