SunSirs: Silicomanganese Spot Prices May Continue to Be Weak

　　Price trendOn November 4, the prices of domestic silicomanganese (FeMN68Si18) from mainstream manufacturers in Ningxia were quoted at 9,900-10,300 RMB/ton.Analysis reviewRecently, the market demand is not good, and the number of tenders for steel mills has decreased. On the 3rd, Hebei Iron and Steel Group announced the first round of silicomanganese inquiry price in November: 9,900 RMB/ton (price is 12,800 RMB/ton in October, and 6,080 RMB/ton in November 2020). The purchase volume of silicomanganese in November: 12,350 tons, a month-on-month decrease of 4,650 tons compared with October (the volume in November 2020: 22,600 tons). Among them, Xuanhua Iron and Steel Group 0 (0), Chengde Iron and Steel Group 2,750 (-2,750), Shijiazhuang Iron and Steel Group 100 (-), Handan Iron and Steel Group 2,500 (-500), Wuyang Iron and Steel Company 3,000 (-1,000), Tangshan Iron and Steel Company New Base 4000.Affected by factors such as the relatively general inquiry price, the current industry’s attitude towards price has been significantly weakened, and the sentiment of low-price selling has increased. However, in the case of favorable cost support (except for the fact that the raw material manganese ore market remains strong, there have been recent news of an increase in electricity prices in many places), most companies are not willing to further cut prices to sell goods.Market outlookIt is expected that under the interweaving of long and short information, buyers and sellers will be slightly deadlocked, and the spot price of silicomanganese may continue to be weak in the short term.