Mn alloy price let loose in Europe
2007-06-04 10:09:00 【Print】
BEIJING (Asian Metal) 4 Jun 07 – Manganese alloy market continues to go ‘Crazy” in Europe and prices are firming due largely to production cost, although enquiries and demands have been increasing , there is no actual shortage at list for now as the market is yet to reach it’s peak.
In America and India, shortage has already hit the market and buyers are just chasing the price.
A producer source in Europe informed that silicomanganese market is going "Crazy" as price has increased terribly in the last few weeks, nobody is able to say when and where it will end. Commenting that Europe is yet to see the shortage but may be in the third quarter, but in America import is lower than consumption, so price is terribly firm over USD0.85/lb in warehouse Pittsburgh for 65/17 grade. Adding that the situation can be quite critical as there is no real capacity increase in Europe, citing his company as an example that has been operating fully with 10 furnaces in the last ten years without capacity increase. The company has stopped offering till third quarter as they foresee a bullish silicomanganese market.
Another producer source that have stopped SiMn production when the pricing was not favorable said they are hearing price has been firming and presently at around EURO1, 000/t delivered for 65/17 SiMn and offers for third quarter at EURO1, 200/t. As a result, they are thinking of restarting if capacity allows, however, decision will be taken in two weeks time.
A trader source also confirmed manganese alloy market and described as incredible, as price has risen so sharply within a short time. That he has decided to watch from the sideline for now because not willing to take much risk as nobody is sure of the market. He said, he has been hearing EURO1, 100/t for 65/17 SiMn grade and EURO1, 000/t for 75% Mn both delivered to customer.
