European manganese alloys prices are extending their losses in the spot market in line with weaker demand from the steel sector, and further weighed by persistent falls in manganese ore prices in recent months, industry sources told Fastmarkets.
The silico-manganese market weakened by almost 4% to ?,?840-860 ($926-949) per tonne from ?,?880-890 per tonne in the past week, after suppliers cut their offer prices to encourage buying interest from domestic consumers. The silico-manganese market is at a level last seen on November 4, 2016, when the price range was assessed at ?,?820-930 per tonne delivered.The medium-carbon ferro-manganese market dropped by 4.2% to ?,?1,230-1,260 per tonne delivered, from ?,?1,275-1,325 per tonne, due to suppliers trying to encourage buying appetite from steelmakers.About 90% of total world manganese production is used in alloy form in steel for use mostly in construction. Silico-manganese key applications are in long steel products for the construction sectors, such as wire mesh and reconditioned bar. Ferro-manganese is used as a deoxidiser in steel production...