June 2009 | Ferro-alloys
European prices bounce: Manganese highlights
Aggressive production cutbacks are beginning to pay off for manganese alloy producers, particularly those selling material in Europe.
European silico-manganese prices have broken months of almost relentless losses, with a small recovery in the past week on renewed buying interest in the spot market. Silico-manganese spot prices are at €650-680/tonne ($890-930/tonne) delivered, although the market was above €1,000/tonne in January.
European ferro-manganese prices have bounced about 10% in May on increased buying from steelmakers who have run down their stocks to levels low enough to prompt spot market buying interest. High-carbon ferro-manganese prices are up €70/tonne to €770-820/tonne ($1,055-1,125/tonne) delivered. Medium-carbon ferro-manganese is up €50/tonne on the low end of its current range to €1,200-1,250/tonne, while low-carbon material is at €1,500-1,600/tonne.
Price rises follow sharp output cutsPrices are moving higher following steep cuts in European production and after domestic producers had been selling...
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