Key data from July 14 pricing session.
Silico-manganese 65% min Mn 16% min Si $ per tonne fob India
Key drivers Slow demand is expected to continue in July and August, as many customers are covered until the fourth quarter. Output is low as Indian producers await the outcome of a European anti-dumping investigation. As a result, many plants are operating at 40-50% of capacity, and some have moved to ferro-chrome, ferro-silicon or other alloys.
Key quotes “The costs are holding up the prices. I think only a reduction in manganese ore prices can further reduce silico-manganese prices.” – producer “Indians are very nervous about the investigation, but what Euroalliages is missing in this matter is not the premium Indian SiMn 65/16 being the problem, but the 60/14 down to even 45/10 material that is being blended!” – trader Charlotte Radford email@example.com Twitter: @CRadford_MB