Post-Holiday Market Analysis of Silicon Manganese Prices

From early September to the 23rd, thesilico manganese market experienced a decline of around 300 yuan/ton. Despite no significant changes in the supply-demand structure, towards the end of the month, a series of macroeconomic favorable policies triggered a sharp rise in the black metal futures market, prompting silico-manganese to stop its decline and rebound. By the end of the month, factory prices had risen again to around 6,000 yuan/ton. In just the last 10 days, the price of silico-manganese alloys surged by as much as 600 yuan/ton.

Following the National Day holiday, the black metal futures market continued its pre-holiday upward momentum. The rebar January contract (01) hit a morning high of nearly 3,800 yuan, while the silico-manganese contract peaked above 6,800 yuan before fluctuating between 6,600 and 6,800 yuan. The basis between silico-manganese futures and spot prices remained stable, with contracts for silico-manganese in northern production areas being discounted by around 380 yuan compared to the market price, while in Tianjin, the discount ranged from 200 to 250 yuan, and in Jiangsu, from 150 to 180 yuan.

In the spot market, factories were more proactive in their post-holiday pricing, pushing prices higher. Today, silico-manganese 6517 is being offered by factories in both northern and southern China at prices ranging from 6,500 to 6,600 yuan/ton, as the market waits for the next round of transactions. Before the holiday, only a few deals were made at around 6,200 yuan, while steel mills’ bidding prices ranged between 6,400 and 6,600 yuan/ton. After the holiday, factories showed a much firmer pricing stance, making it harder to achieve pre-holiday transaction prices.

Regarding raw materials:

1. Compared to September 30, the price of coke (chemical coke) rose by 150 yuan/ton. For example, in Ningxia, the price offered by a representative enterprise was 1,610 yuan/ton (25-40mm, wet quenched) and 1,610 yuan/ton (10-30mm, wet quenched).

2. Manganese ore spot prices showed a clear increase: At Tianjin Port, Australian ore was quoted at 43-45 yuan/tonne unit (up by 2), with transactions at 41-42 yuan; South African ore was quoted at 35-38 yuan (up by 3), with transactions at 32-33 yuan; Gabonese ore was quoted at 43-45 yuan (up by 3), with transactions at 40 yuan. At Qinzhou Port, Australian ore was quoted at 44-45 yuan (up by 2), with transactions at 43-44 yuan; South African ore was quoted at 33-35 yuan (up by 2), with transactions at 32-33 yuan; Gabonese ore was quoted at 43-44 yuan, with transactions at 42-43 yuan.

As a leading silico-manganese manufacturer in China, Hongshun supplies a wide range of high-quality products, including silico-manganese 6517 (Mn65Si17), silico-manganese 6818 (Mn68Si18), silico-manganese 6014 (Mn60Si14), and silico-manganese briquettes (Mn55Si15). Our alloy products are directly sourced from the manufacturer, ensuring superior quality. By purchasing silico-manganese alloys and other products directly from us, customers can bypass agents and wholesalers, allowing them to benefit from more competitive pricing.