China: Mn alloy prices rise

摘要

An expected increase in purchases from steelmakers supported the manganese-alloy market, while limited buying interest from steel producers continued to weigh on the ferro-silicon and calcium-silicon markets. Ferro-chrome Argus assessed prices for 50pc grade alloy stable from 21 December at 8,600-9,000 yuan/t ex-works today, or Yn17.20-18/ kg ($1.23-1.28/lb) for contained chromium, as firmer demand from trading firms and output cuts in south China owing to limited profit margins offset low restocking demand from the stainless steel sector. A number of alloy producers in Hunan and Guangxi reduced output because of squeezed profit margins, promoting trading firms to build up stocks in light of an expected rise in restocking demand next month before the lunar new year holiday.