Can the Market Expect A Rally in Silicomanganese Prices after Plunging by 32.3%?_SMM | Shanghai Non ferrous Metals - SMM - Shanghai Metals Market

The National Bureau of Statistics showed that crude steel production in October was 71.58 million mt, down 2.9% month-on-month, and down 23.3% year-on-year;

SHANGHAI, Nov 16 (SMM) - The National Bureau of Statistics showed that crude steel production in October was 71.58 million mt, down 2.9% month-on-month, and down 23.3% year-on-year; crude steel production from January to October was 87.71 million mt, down 0.7% year-on-year; steel production in October was 101.74 million mt, down 0.2% MoM, and down 14.9% YoY; and steel production from January to October was 112.24 million mt, up 2.8% year-on-year; pig iron production in October was 63.03 million mt, down 3.3% MoM and 19.4% YoY; and pig iron production in January-October was 734.07 million mt, down 3.2% YoY.

Manganese alloy demand from the downstream sector is decreasing according to the data released. In January-October, 2021, the real monthly consumption of silicomanganese (including standard silicomanganese, high-silicon silicomanganese and other non-standard silicomanganese) in China totalled 9,021,900 mt, while China’s silicomanganese output in the same period recorded 8,988,000 mt. The demand in October dropped from last from, while the output picked up from September.

As far as SMM understands, the power rationing in major producing areas has been relaxing since mid-October, and the output picked up faster than expected. However, the production restrictions toward downstream steel mills did not improve, leading to...

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