The demand for alloys in Europe is decreasing

The prices of manganese alloys in Europe continue to rise, and consumers have decided to adopt a wait-and-see attitude. Business activities in the field of ferrosilicon have also decreased, as buyers are unable to reach the ideal prices.

After another round of price increases for manganese ore, alloy prices have also resumed growth. At the beginning of last week, the prices of major manganese raw material suppliers increased significantly month on month, with a growth rate of up to 20%. Subsequently, alloy suppliers in the European market immediately responded by increasing their prices. At present, the quotation for silicon manganese (65% Mn; 16% Si) originating from India is 1450-1500 euros/ton CIF, however, it has not yet aroused the interest of European consumers. The lack of actual demand has hindered European traders from forming price ranges. The price of manganese ore continues to rise rapidly, making it difficult to estimate the acceptable alloy price for consumers. In addition, there are still doubts about the supply of Ukrainian alloys to Europe, with Georgian suppliers offering alloy prices close to 1500 euros/ton CIF.

Ferrosilicon (75% Si) has slightly adjusted again to 1450-1500 euros/ton DDP (with an average weekly increase of 10 euros/ton). Although consumers have extremely low purchasing interest, sellers are not in a hurry to offer discounts.