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Despite limited supply, suppliers are worried that prices will fall because trading activity is still low. The quotation of ferrosilicon (75% Si) is stable at 4000-4500 euros (from the warehouse), but some traders make concessions to reach a deal. It is learned that the bidding price of a batch of 50 tons of alloy is 3750 euros DDP. In the field of silicon manganese, the activity is still very low and the quotation is also low.

 

The index price of alloy (65% Mn; 17% Si) remains at 2100-2200 euros (from warehouse). The quotation of Indian alloy (65% Mn; 16% Si) ranges from 20 euros to 1745-1790 euros CIF on a weekly basis, but European buyers are still not interested in the product. The market price of high carbon ferromanganese (75% Mn) fell, and more traders offered discounts to clear the remaining inventory. The latest transaction price is 1900-2000 euros DDP, but the quotation may be higher. Spot demand for manganese and silicon alloys remained weak, and suppliers were worried about possible price cuts.

 

Some consumers entered the market for their first purchase in the third quarter, but traders are not in a hurry to buy in advance. It is not ruled out that the situation will change. It is understood that European long and stainless steel producers are now facing difficulties due to the rise in electricity costs and raw material prices, so they may reduce or stop production.