Manganese alloy smelters are under pressure to scale back production due to the smaller margins achieved on suppressed alloy prices, Ferroglobe chief executive officer Pedro Larrea said during Fastmarkets' International Ferro-alloys Conference in Lisbon.
Ferroglobe has cut some production at its manganese alloy furnaces, because the company has faced difficulties in generating profits due to the strength of manganese ore prices relative to alloy prices, Larrea conceded during a manganese panel at the event, held on November 11-13.He did not give details of the extent or volume of Ferroglobe's production cut.Manganese alloy prices have been slowly declining for much of the year, while the manganese ore market has remained surprisingly resilient.The European price for silico-manganese was assessed by Fastmarkets at ?,?900-950 ($1,013-1,069) per tonne on November 9, having fallen...