European base alloy market remains calm

There were no noticeable changes in the European market for manganese and silicon alloys. Due to the holidays, there was almost no business activity, but suppliers maintained prices due to limited supplies.

The price range for silicon manganese (65%Mn; 16-17%Si) was adjusted to 1240-1300 €/t (1230-1330 €/t a week ago). However, few sales of standard quality alloys were reported, but this is the norm in this period. The few transactions were concluded at prices close to the lower end of the quoted range. Only alloys of non-standard qualities were sold at prices above 1300 €/t.

The quotes for high carbon ferromanganese (75%Mn) were also slightly adjusted to 1280-1320 €/t (previously 1280-1330 €/t). However, there was no information on sales. Although the European spot market is gradually calming down with the start of the holiday season, suppliers do not expect prices to fall. Indian suppliers are offering impressive discounts for the second week in a row, but at the same time, freight rates from India to Europe have almost doubled in the past few months and the production costs of the alloys have also increased. Furthermore, from the beginning of July, for at least three months, Zambia will stop producing manganese alloys due to power shortages. Note that it was this alloy that previously formed the lower end of the range. Offers for ferrosilicon (75%Si) remain in the €1450-1500/t range. Some suppliers continue to try to raise prices, especially when selling immediate shipments. Metal Expert has learned of single sales not exceeding €1490/t DDP, but even this price is considered too high by consumers.