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Views: 0 Author: Site Editor Publish Time: 2025-09-02 Origin: Site
There were mixed responses from manganese market participants toward the Two Sessions’ government work report.
“The report is too vague,” one international manganese ore supplier said. “I don’t expect any effect on the manganese ore and alloy market. Let’s wait for any announcement of specific stimulus packages to shore up the property market.”
A Chinese manganese ore and alloy trading company believed that the 5% GDP growth target for 2024 was “too conservative, adding no confidence to the market.”
The prices of both silico-manganese and ferro-manganese in Chinese spot markets fell over the week, because of existing weak fundamentals and falling futures price for silico-manganese traded in the Zheng Commodity Exchange, the manganese alloy trading source told Fastmarkets.
Fastmarkets’ weekly price assessment for silico-manganese, 65% Mn min, max 17% Si, in-whs China, was 5,800-6,000 yuan per tonne on March 8, compared with 5,900-6,050 yuan per tonne on March 1.
And the assessment for ferro-manganese, 65% Mn min, max 7% C, in-whs China, was 5,450-5,600 yuan per tonne on March 8, down from 5,500-5,700 yuan per tonne a week earlier.
But another manganese ore source was more positive, because of the following three factors.
First, the exchange of old for new consumer goods and expanding domestic consumption meant that there would be higher demand for manufacturing products, which will eventually increase the demand for ferro-manganese to produce flat steel.
Second, the construction and supply of affordable housing will improve the demand for silico-manganese for producing construction steel, such as rebar.
Third, China’s increasing purchases of new energy vehicles (NEVs) will add to the use of manganese in batteries.
In the ferro-chrome market, the impressive production and sales of NEVs in China gave confidence to market participants, despite the Two Sessions having little overall effect on the commodity market, according to market sources.
“Overall, the effect of the Two Sessions on ferro-chrome market sentiment is limited,” one Chinese ferro-chrome smelter source said.
“However, the new energy vehicle market is a spotlight. The NEV industry supports demand for stainless steel,” the smelter added. “In other words, [the economic targets are] promising for [the consumption of] ferro-chrome.”
The price of ferro-chrome in the Chinese spot market remained stable, with high availability of the material and rollovers from leading stainless mills in their monthly-set tender prices for high-carbon ferro-chrome.
Fastmarkets’ weekly price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, was 8,800-9,000 yuan per tonne on Tuesday, unchanged since December 19, 2023.
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