Minimal activity in North Africa to affect ferroalloy prices

摘要

Manganese alloy prices slightly dropped in North Africa in March due to insufficient support from end users. Indian SiMn (65 Mn, 16 Si) prices fell by $30/t on average to $960/t CIF. HC FeMn (75 Mn) was quoted at $940/t CIF, down $25/t month-on-month. Steel output increased in Egypt over past few months. The boost was favoured by the imposition of import duty on square billet and is not expected to continue in the future. It will also be somewhat curbed by restricted operation from 7 p.m. till 6 a.m., which was imposed by the Egyptian government on March 25. A bigger reason for lower output will be slower activity amid the closure of construction projects, which will lead to weaker steel demand. As a result, steel production may decline by 10-15 on average in the forecasted period from 774,000 t in February.