Manganese spot price going up, page-133

The price of manganese ore is driving up the price of silico manganese, partly because South32 Metalloys is still shut down.

	Column 1
0	SiMn Price in China Jumps
1	= Panic buying occurs in response to the lockdown extension by South Africa =[/B]
2	Because the President of South Africa announced the extension of a lockdown until April 30 at night of April 9, the retail price of the imported manganese ore and silico manganese price in China turned to an upward trend again.As of 14:00, April 10, the price of Inner Mongolian 6517 product exceeds CNY7,000 per ton, up by CNY200 from the morning Some market participants explained the reasons of the price increase as follows. The price of manganese ore increased, because the lockdown in South Africa was prolonged. The users, who had a concern for the supply of silico manganese, rushed to buy silico manganese in panic, and the traders and the speculators, who were bullish sentiment, bought future contracts in large quantities.In addition to this, they pointed out as follows: (1) The silico manganese export from South Africa is expected to suspend for more than 1 month; (2) India, an exporting country of silico manganese, also declared a lockdown, and there is a possibility for extension; (3) Malaysia uses large quantity of South African manganese ore for producing silico manganese. As a result, there is a concern that the supply and demand balance of silico manganese will become tight globally.The number of offers from the overseas users increased to Chinese silico manganese, which is regarded as expensive, because of the export tax at 20%.