July 2012 | Ferro-alloys
Europe eases amid slowdown, seen persisting: Manganese Highlights
European prices tumble as steelmakers prepare for extended summer shutdowns.
Spot European high-carbon ferro-manganese prices have slipped to 940-970/tonne ($1,155-1,190/tonne) delivered versus 950-990/tonne in June amid slowing steel production in Europe. Medium-carbon ferro-manganese prices are around 1,225-1,250/tonne ($1,505-1,535/tonne).
European spot silico-manganese prices, meanwhile, are unchanged at 940-980/tonne ($1,155-1,205/tonne) delivered. Persistent weakness in the construction sector is affecting steel production and further declines in silico-manganese prices are expected in the short term. Third-quarter deals have not been concluded and most business is expected to be done on a spot basis, while second-quarter deals were settled slightly above 1,000/tonne delivered in northern Europe.
Most steel works in Europe that produce long steel for use in the construction sector are shutting for six weeks in the seasonal slowdown, and a few are even closing down for eight weeks. That compares with...
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