It will be interseting to see what next week brings with the silico manganese price.
Mysteel Silico-Manganese Daily: Silico-manganese futures fluctuate and spot is still strong
October 09, 2021 17:41 HKT
The domestic silico-manganese trend is still strong. Although today’s futures market fluctuates significantly and closes slightly below the 12,000 mark, the spot mentality is still strong, and some steel mills have finalized the October silico-manganese bidding price to 12500-13000. The steel group has not yet expressed its position, and there has been a slight delay. The market spot is still tight. Although there are traders shipping, the quotation is still high. The retail factory is still 12,000. Ningxia, Guangxi, Guizhou, and Inner Mongolia are still affected by limited power supply. It has not completely improved. The manufacturers are very willing to resume production with high profits, but they still cannot start operations under power shortages.
In terms of manganese ore, the port Australian block has risen well in recent days, with an increase of 2-3 yuan, while other minerals have performed generally, with small gains, and some are even flat. South32's November futures offer for China has been slightly increased. The high-grade Australian block was US$5.8/dmtu (up 0.16), and the South African semicarbonate was US$4.65/dmtu (up 0.09). It is said that the Australian block has been received. Due to domestic manufacturers' preference for high-grade mines, overseas mines have taken measures to increase prices, but the performance of other minerals is relatively average.
On the whole, in the short-term, due to power shortages in various places, production will rebound slowly under the premise that production has not been released. However, under high profits, many companies that can be opened will choose full capacity, and some restricted companies will also Find a way to increase, the market invisible volume still affects the later price, and the basic trend of steel recruitment took shape in October, and the price of 12000-13000 ranged domestic silicomanganese prices to new heights.
If the power cut continues after the holiday, the price of silico-manganese may remain high. However, if the output improves and the superimposed steel mill implements the reduction of crude steel, the price of silico-manganese will still be under certain pressure. It is still a recurring phenomenon, and a complete improvement may be minor.
OMH Price at posting:
$1.21 Sentiment: Buy Disclosure: Held
