SunSirs: The Domestic Spot Price of Silicomanganese Will Remain High in the Short Term

　　Price trend

　　On the 12th, the transaction price of domestic silicomanganese (FeMN68Si18) in the main plant area of Ningxia was between 12,000-13,000 RMB/ton.

　　Analysis review

　　Before the holiday, HBIS Group’s October bidding price for silicomanganese was finalized, and the market direction became clear. After the holiday, other steel mills used this as a reference to make purchases one after another, and the overall market was basically operating steadily. The spot supply of enterprises is still tight, there is a certain gap in the market, and overall demand may increase significantly.

　　There was news on the 11th that the power restrictions in Guangxi and Guangdong provinces have been relaxed: Guangxi will not have power restrictions within a week, and the site will use electricity normally; some electric furnaces in Guangdong are open but there are still staggered production conditions, and the electric furnace plants in Guangxi are basically fully open a and the furnace is normally opened for about a week.

　　On the 12th, the price of silicomanganese in Ningxia was between 15,000-16,500 RMB/ton, but the transaction price was between 12,000-13,000 RMB/ton.

　　Market outlook

　　Comprehensive consideration, the short-term domestic spot price of silicomanganese will remain high.