Base alloy dynamics in the MENA region:

Low consumer interest in sourcing manganese and silicon alloys in the MENA region this month against the backdrop of general unfavorable steel industry has put pressure on ferroalloy suppliers.

Siliconmanganese:

Extremely sluggish activity in the silicomanganese sector in May forced suppliers to make concessions amid a small number of buyers. 

①Market movements

A major steel producer in Oman procured thousands of tons of alloys (65% Mn; 15%Si）。 Small batches (500 tons per batch) of alloys (65% Mn; 15% Si) is sourced from the Middle East and North Africa at a price of $1000-1010 CIF.

In Turkey, a major consumer is currently tendering for 2,300 tonnes of silicomanganese (71% Mn; 17%Si）。 Next week, an Egyptian steelmaker will tender for the supply of about 10,000 tons of alloys (65% Mn; 16% Si), which will meet its needs for the next 4-5 months.

②Quotation

India (65% Mn; 16% Si) is quoted at $990-1050 CIF.

Turkey also has an offer from Europe for $990 CIF,

Malaysia is quoted at $1050 CIF, 

Georgia is quoted at $1250 DDP 

Ukrainian material (71% Mn; 17% Si) is quoted in Turkey at $1140-1150 CIF.

Ferrosilicon:

①Market movements

Ferrosilicon (75% Si) from China and Malaysia is quoted at $1570-1650 CIF, and consumers in the Persian Gulf countries and North Africa have no interest in buying ferrosilicon.

②Quotation

In Turkey, due to the active entry of suppliers of Iranian and Russian products, the price is an order of magnitude lower for Iranian alloys (72% Si) at $1320-1380 CPT, 

Russian materials (72-75% Si) at $1450-1580 CIF,

Turkish buyers can buy Chinese ferrosilicon (72% Si) for 1480-1510 USD CIF, 

the average price in Malaysia (75% Si) is 1640 USD CIF, 

1,000 tons of Russian alloy (75% Si) is trading at $1,450 CIF in Turkey.

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