Other factors such as an acute shortage of shipping containers and record high freight rates were also making replacement costs very expensive, while manganese metal prices at near-25-year peaks were seen to be cementing market strength in steel manganese alloys.
The combination of bullish factors behind manganese alloys prices has been prompting steady short-covering from traders looking to restock ahead of an expected renewal of consumer demand this month and into October.
Steelmakers were expected to be looking to replenish their feedstock for their smelting schedules for the fourth quarter, and there has already been buying interest from steel mills for the first quarter of 2022, trade sources have told Fastmarkets.
Fastmarkets’ price assessment for silico-manganese, lumpy, 65-75% Mn, basis 15-19% Si (scale pro rata), major European destinations, was 1,580-1,630 ($1,877-1,936) per tonne on Friday, a level last reached in September 2008, while the price of high-carbon ferro-manganese, basis 78%...
Read Full Story: https://www.metalbulletin.com/Article/4006553/Minor-metals/Europe-manganese-alloy-markets-buoyed-on-firm-fundamentals.html
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