Silicon-manganese tight confidence better follow-up development is still on the horizon(05/06/2019)

CFO 2019-6-5: Recently, the spot market of silicon and manganese is tighter, with more orders from factories. Most of the orders from factories are scheduled to the middle and late of June. With the steady price of steel recruitment in June, the overall operating mentality of silicon and manganese market is relatively stable and confidence has returned. Many factories do not offer at present, temporarily stop receiving new orders, a small number of factories offer a high center of gravity, cash ex-factory tax-containing offer in 7250-7300 yuan/ton mostly. Traders are difficult to operate between factories and steel mills.

At present, there is little change in the spot market. Operators pay more attention to the upstream trend of manganese ore. Recently, manganese ore is still subject to the pressure of high inventory. Although the speed of extracting ore in factories has been accelerated, most of them are self-owned mines. At present, the decline of manganese ore inventory in ports is still not obvious, and the weak trend of operation in the market continues along with it. The alloy is stable, the manganese ore continues to be weak, and the follow-up development still needs to be watched.