European Mn alloy price recovery limited

摘要

The recovery in manganese alloys prices in Europe in the past week or two may have limited space to move higher in the near term due to depressed end-user steel demand in the automotive and construction sectors, according to trade sources and available industry data. Until the past week or two, manganese alloys prices in Europe had been trending downward since late April due to the effects that national lockdowns to limit the spread of the Covid-19 pandemic have had on end-user demand and consequently prompted steep cuts in output from heavy industry. Car production and the construction sectors represent the two main areas of consumption for ferromanganese and silico-manganese production, respectively.