July 2009 | Ferro-alloys
US prices slide again: Manganese highlights
The high-carbon ferro-manganese market in the USA has stabilised despite persistent steel market weakness. Meanwhile, Indian Manganese prices improve on stronger demand and tight supply
There have been a few more buying enquiries in the USA in June as steel melt rates increase slightly and stocks have been run down. US steel production rates rose to an average of 48.7% by the end of June, but this is still sharply below normal average operating rates of 85-90%. If improved operating rates persist through the third quarter, however, this should bring some needed stability to prices.
Despite a modest upturn in purchasing, manganese alloy prices remained under pressure over the past month. High-carbon ferro-manganese held steady at $900-950/long ton delivered, while medium-carbon material dropped $0.05/lb on the top end of the trading range to $0.80-0.85/lb delivered. US silico-manganese prices have also weakened again, with material readily available, although underlying demand has been stronger, compared with other manganese alloys. US spot silico-manganese prices are at $0.35-0.38/lb....
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