In July, the European ferroalloy market remained under the pressure of seasonally low demand. The sporadic appearance of rare buyers provoked speculations from suppliers, but price growth was only in offers and did not last long. In deals, the sellers continued to concede.
Negative trends prevailed in the global steel and raw materials markets as well. Thus, the discussion of the benchmark price for HC FeCr for the third quarter ended with a 12% decrease. In addition, tender prices for chrome alloys in China declined for the second month in a row. A similar trend is noted in the manganese ore market.
Manganese and Silicon
- Ferrosilicon sellers, primarily traders, continue to make concessions to infrequent buyers
- Amid unfavourable market conditions, primarily in the key sales market – Europe, producers of manganese and silicon ferroalloys in Ukraine are planning to reduce production drastically
- Slovakian ferroalloy producer OFZ plans to relocate almost half of its production to Uzbekistan amid high electricity cost and lack of state support
- SiMn market was seasonally quiet, with only traders with Indian alloys making offers
- Manganese metal flakes market continues to grapple with challenges arising from sluggish demand in the region and unsuccessful attempts to reduce supply in China
Noble and Chromium alloys
- Despite relatively low demand, the European ferromolybdenum sellers are seeking support from the anticipated reduced supply amid high liquidity in Asia and scheduled maintenance at the plant in Armenia
- With spot activity remaining seriously depleted due to the lingering weak demand from end-users, sentiments in ferrovanadium market have remained pessimistic
- Seasonally low buying activity continues to contribute to the gradual depreciation of ferrochrome in Europe. Rare buyers are provoking a certain rush among suppliers, willing to make concessions
- All three major HC FeCr consumers in China reduced purchasing prices for August by 2-3%
The Metalshub Price Discovery Service gives you access to weekly updated price indices based on real data from market transactions on different ferroalloys.
Schedule a demo with our team now and learn more about how our price indices can help you and your business get the best possible prices.