Looking at Chinese prices is giving you a false idea of what prices are outside China.
Prices outside China are much higher and hitting new records.
"overseas
The price of silicomanganese in South Korea is at the highest level, at US$2400-2500/ton."
http://goodsfu.10jqka.com.cn/20211104/c633984256.shtml
Need to translate from Chinese. Price of power is at huge prices " feedback ranges from 0.65-0.96 yuan/kWh." ( US$0.10 to 0.15/kWh)
"
Silicon manganese market
manufacturer
Ningxia: The production is unstable, there are start-ups and stops, the load is low, and the inventory is low.
Gansu: Production is temporarily maintained, but the impact of the epidemic still exists.
Inner Mongolia: Production is normal, and the power curtailment situation has eased. Electricity rates vary from one company to another, and the feedback ranges from 0.65-0.96 yuan/kWh.
Guangxi: Some manufacturers reported that they have completed their shipments, and that some manufacturers have low stocks and that they have plans to avoid danger and stop production.
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