April 2012 | Ferro-alloys
Europe consolidates recent rally: Manganese Highlights
European and US prices stabilising at elevated levels.
European spot silico-manganese prices are at €1,040-1,060/tonne ($1,365-1,390/tonne) delivered, unchanged from March. Second-quarter deals have been settled at €1,000/tonne delivered in northern Europe and at €1,060/tonne delivered in southern Europe. European producers such as Eramet and Ferroatlantica have yet to resurface on the market, as had been expected, in April after stopping spot market business in recent months, which has clearly supported prices.
The European ferro-manganese market has also been consolidating after a similar run-up in prices. Spot European high-carbon ferro-manganese 78% grade material is at €940-970/tonne ($1,235-1,275/tonne), with second-quarter deals agreed at similar levels. Southern Europe, however, has settled only a few quarterly delivery contracts at around €900/tonne amid weaker demand.
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