SunSirs: On November 10, the Spot Market of Silicomanganese Was Stable
November 11 2022 11:29:26 SunSirs (John)
Price trend
On October 10, the spot price of silicomanganese remained stable, and the mainstream quotation in Ningxia (FeMN68Si18) was around 7,000-7,100 RMB/ton.
Analysis review
The bidding price of silicomanganese in November of HBIS was determined to be 7,450 RMB/ton, which was 100 RMB/ton higher than the first round of inquiry price, and 100 RMB/ton lower than the price last month (the price of silicomanganese alloy in October was 7,550 RMB/ton). The market confidence was improved.
The cost of electricity in the south main production area of silicomanganese rose, and the price was slightly higher than the cost line, so the manufacturers were more willing to support the price. The willingness to start construction in some major production areas in the north declined. In recent weeks, the growth rate of silicomanganese output slowed down, and the output decreased from an increase to a decrease. The pressure on the supply side had eased.
Market outlook
Although a new round of steel bidding has been opened, with the approach of the off-season, the high incidence of heavy pollution weather in autumn and winter, and the large loss area of steel plants, the demand for silicomanganese and other alloys may still be constantly tested. In addition, there are still many bad news such as the gradual weakening of cost end support. It is unlikely that the silicomanganese alloy market will fluctuate significantly in the short term.
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