Domestic Silicon Manganese market analysis

Inner Mongolia Silicon Manganese: There has been no widespread reduction in production at factories so far, with some factories reducing production for maintenance. Output fluctuations are not significant, and some factories have indicated that there may be a reduction in production at the end of August. Currently, factories are nearing the end of delivering their previous orders, and they are offering prices less frequently. Some factories are offering prices of 6100-6200 yuan per ton, with moderate transactions. Transactions are mainly based on futures point pricing. Currently, factory inventories are increasing, and some factories are facing pressure to build up inventories. Steel mills, the mainstream steel procurement enquiries are 6100 yuan per ton, lower than the expectations of factories, and are observing the final pricing and factory reduction situation.
Other regions: Manufacturers and traders: In recent weeks, the production in North China has remained low, and manufacturers are in a wait-and-see mood, with low willingness to sell. Most of them have closed their prices and are not quoting. Traders are currently selling on a spot basis, with limited inventories. Futures market: This week, the overall trading atmosphere for black commodities was bearish, and the main silicon manganese contract price has remained low. Market sentiment is weak, and prices have continued to be under pressure and fluctuate weakly this week. This week's transactions were relatively active, with ongoing multi-party bargaining sentiment. The total number of warehouse receipts has increased, and the main steel procurement volume has decreased compared to last month. Demand is weak, and the supply and demand pattern is still slightly loose. The inventory at the delivery warehouse has not improved this week, and the 01 contract continued to move down this week. The momentum column completed the conversion of multi-party momentum on Wednesday. Technical indicators such as moving averages and relative strength index have moved from low to high, and the subsequent focus should be on the depletion of warehouse receipts and the shutdown and reduction of production in the main production areas. It is expected that silicon manganese will remain in a fluctuating trend in the near future.

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