Despite weak demand Mn alloy sellers in Europe succeed in raising prices
2023-12-08
In early December, despite still weak demand and occasional end-user enquiries, manganese alloy sellers in Europe consolidated efforts to increase offer prices. In their actions, suppliers are relying mainly on expensive imports. “Demand is not encouraging, so we are not taking the risk of buying large volumes upfront and are working with current stockpiles,” a trader commented.Metis has learnt that appealing to high production costs and rising transport expenses, Indian exporters this week raised SiMn offers to $870-900/tonne CIF from the previous $840-870/tonne CIF. Ex-Georgia products are being offered at $1,000-1,050/tonne CIF at ports in southern Europe. In turn, high-carbon ferromanganese, predominantly of Indian origin, is available at $860-920/tonne CIF. “The lowest price tag I have been quoted is $800/tonne CIF, but I have no confidence in this plant in India,” a representative of a trading company said.For end-users in Europe, silicomanganese offers are as high as €1,050/tonne DDP and above, while those for high-carbon ferromanganese – up to €1,020/tonne DDP. Nevertheless, rare buyers are taking advantage of their position by securing significant discounts. “We conceded as low as €990/tonne DDP, but in the end we were rejected,” the seller laments.Overall, Metis estimates the working level of spot deals prices for SiMn (65% Mn, 16% Si) at €920-960/tonne DDP (up €40/tonne DDP from last week) and HC FeMn (75% Mn) at €900-950/tonne DDP.
Mn metal prices in Europe show bullish signals, but sustainability remains uncertain
2023-12-06
Anticipating a decline in production, Chinese manganese metal (Mn metal) suppliers have chosen to either withhold their offers or adjust them accordingly. Specifically, ex-China offers for Mn metal flakes have increased by $50-80/tonne over the past week, reaching $1,800-1,850/tonne CIF Rotterdam. “Our company has paused quoting these days as factories push for price hikes,” a China-based trader noted. However, there are concerns about the sustainability of this trend, especially with the approaching holiday season expected to slow down trading activity in Europe. “I’m afraid the trend is not sustainable. The effect might be achieved for December, not for further shipments.,” an international trader commented. Occasional offers at $1,790/tonne CIF can still be found.As a result, Metis has set prices for Mn metal flakes (99.7% Mn min) at $1,900-1,950/tonne DDP, with the lower end of the range increasing by $20/tonne since the previous week. Some traders have successfully secured orders at higher figures. Metis has learned of a 50-tonne deal at $1,930/tonne warehouse.On a different note, as of Friday, December 1, the Metalshub average weighted index for Mn metal has settled at $1,881/tonne FCA, moving from $1,935/tonne FCA.
FeV prices fluctuate in limited range in Europe
2023-12-07
The European ferrovanadium (FeV) market is experiencing persistently sluggish trading activity, showing no signs of improvement as the holiday season approaches. The market remains characterised by a limited range of price fluctuations.As before, European traders continue to negotiate prices individually, in most cases resorting to offering discounts to secure orders. Consequently, this week, FeV (75% V min) prices in Europe have settled at $25-26/kg V DDP, marking a decrease of $1/kg V compared to the previous week. “The FeV market is dramatic at the moment”, an international trader remarked on the current market environment.