The most active silico-manganese contract rose by more than 5% to 12,130 yuan/mt as of 10:10 am today. Since the end of August, the silico-manganese futures contract has continued to rise, a gain of 50% as of now.
SHANGHAI, Sep 28 (SMM) - The most active silico-manganese contract rose by more than 5% to 12,130 yuan/mt as of 10:10 am today. Since the end of August, the silico-manganese futures contract has continued to rise, a gain of 50% as of now.
The supply of silico-manganese has continued to be tight since September. On September 27, the average spot price of 65/17 silico-manganese (by acceptance) in Inner Mongolia was 11,600 yuan/mt, and the quotation increased 47% in the past month.
On the news, Ulanqab Power Grid once again issued an orderly power consumption warning from September 27 to October 1. Except for the improvement of power rationing in Xingyi of Guizhou, the power rationing in other main producing areas remains underway. At present, the spot supply is still tight, so several sellers that had cargoes held back goods at low prices. On the whole, the market silico-manganese prices will remain high in the short term before the completion of the bid solicitation by steel mills.
The downstream demand for manganese alloys has trended lower. From January to August 2021, China’s total monthly actual consumption of silico-manganese (including regular silico-manganese, high-silicon silico-manganese and other non-standard silico-manganese) totalled 7.59 million mt....
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