| News | ||
| Chinese manganese ferroalloys prices weaken - 19 Mar, 2010 | ||
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TEX reported that after Lunar New Year was over, domestic prices of manganese ferroalloys in China have generally remained unchanged but some of them have weakened its prices. In particular, prior to Lunar New Year, domestic price of silicomanganese was excited and offered at CNY 8,500 to CNY 8,600 per tonne but, after Lunar New Year was over, suddenly turned to cool down, having caused to fall to a level of CNY 8,200 to CNY 8,300 per tonne. In the same case as that in 2010, domestic price of Chinese silicomanganese in 2009, after Lunar New Year was over, turned to fall. At that time, a main reason was due to the depressed exports of this ferroalloy. Even after Lunar New Year was over, domestic price of high carbon ferromanganese in China has still maintained a similar level to that prevailed before Lunar New Year. The output of crude steel in China has been on a favorable tone from the beginning of 2010 and the demand for manganese ferroalloys from domestic market has been reported as to be active but the cases to rectify and reduce the higher domestic price of silicomanganese in China have currently become remarkable. In view of a revival of steel production in Europe, Indian producers have been favored with a double luck, which, in addition to the exports for Japan, Indians are expected to export more manganese ferroalloys for European countries, where are the traditional markets for Indian producers. Owing to a depression of the steel market in Europe emerged in 2009, Indian silicomanganese was rushed to export for Japan in 2009 but has seen a chance in 2010 to choose Europe or Japan as their market to export. (Sourced from TEX Report Limited) | ||
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