SHANGHAI, Sep 29 (SMM) –
Steel mills issued bids for SiMn alloy before the National Day holiday due to recovering end demand and low SiMn alloy inventory. The bid prices and volumes both rose slightly.
Steel mills also issued bids for EMM. As EMM prices are relatively high, the demand was limited and mainly contributed by special steel and alloy plants. Trading activities picked up, but market prices were chaotic as sellers rushed to clear their inventories due to concerns over post-holiday logistics, given the unstable pandemic situation.
As manganese sulphate is not in short supply, pre-holiday stocking by precursor plants declined when compared with the same period last year. Precursor plants mostly restocked under long-term contracts, with limited purchases from the spot market.