Manganese alloy prices in Europe are falling due to insufficient demand

The quarterly bidding in the field of basic alloys in Europe is quite sluggish, and fierce competition has brought pressure on prices.

This week, there were multiple bids for the supply of manganese silicon alloy from April to June, and suppliers complained that the contracting process was generally unsatisfactory due to oversupply and the low utilization rate of steel production capacity. "Usually, the sales performance in the second quarter is the best, but this time it is worse than expected," said by one supplier to Hainan West Asia group. The transaction price of silicon manganese (65% Mn; 17% Si) is 1090-1100 euros DDP, while the quotation for small batches is close to 1160 euros DDP. The quotation for high carbon ferromanganese (75% Mn) is 1060-1160 euros DDP (previously 1100-1190 euros DDP), and the transaction price is not higher than 1100 euros. The market has also received a large amount of sales information about manganese alloys originating in Europe, with prices ranging from 980-1000 euros DDP, but this level is not yet the prevailing market level.

Indian suppliers are also making constant concessions. Silicon manganese (65% Mn; 16% Si) and ferromanganese (75% Mn) were quoted at 1100-1140 euros CIF, down 10-20 euros on-week.

The quotation for ferrosilicon (72-75% Si) is still EUR 1800-2000 DDP. The transaction price is not higher than 1950 Euro DDP. There are still many quotations for imported products of different quality on the market, which may pose pressure on recent prices in the event of insufficient demand. Ferrosilicon (75% Si) in India can be purchased from the warehouse for 1825 euros (tax included), and local traders quote 1800 euros DDP for alloys (72-73% Si) originating in Kazakhstan and Malaysia.

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