Apr. 15, 2025: Silicon Manganese Latest News
Apr 15, 2025
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Apr. 15, 2025: Silicon Manganese Latest News(7126, -152.00, -2.09%): On Monday, the futures price of ferromanganese fluctuated and weakened. The main contract closed at 5,946 yuan per ton, a decrease of 0.07% compared with the previous day. The position of the main contract decreased by 22,954 hands to 258,200 hands compared with the previous day. The market price of 6517 ferromanganese was 5,670 - 5,900 CNY per ton. The price in Inner Mongolia remained the same as the previous day, while the price in Ningxia increased by 20 CNY per ton compared with the previous day. Recently, the market sentiment has been relatively stable, and the fluctuation range of the black metal sector has narrowed. The ferromanganese futures price weakened at the end of the trading day and closed slightly lower. From a fundamental perspective, the number of production cuts and shutdowns in the main production areas has gradually increased. A large enterprise in Guangxi has reduced production and shut down multiple furnaces in its factories, reducing daily ferromanganese production by 680 tons. A ferromanganese producer in Fengzhen, Inner Mongolia, has also shut down one furnace for maintenance, which is expected to last for 10 days and will reduce daily production by 200 tons. Regarding manganese ore, Comilog announced that the price of Gabonese manganese ore for May to China is 4.8 US dollars per ton of metal, a decrease of 0.3 US dollars per ton of metal compared with the previous month. CML's price for Australian lump ore to China in May is 5.1 US dollars per ton of metal. The price of manganese ore at ports remained unchanged compared with the previous day. Overall, the market's focus has recently shifted back to the fundamentals. The cost-driven factor is limited, and the gradual reduction in supply provides some support for the price. In addition, the steel mills' purchasing plans have increased this week. We will continue to pay attention to the progress of steel tenders. It is expected that the ferromanganese futures price will mainly fluctuate at a low level in the short term.
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