European spot prices for high-carbon ferro-manganese and silico-manganese have fallen by more than 7% in the past week, in line with soft demand and persistently lower ore prices, sources told Fastmarkets on Monday June 29.
New spot deals and offers have dragged alloy prices down to levels last seen about six months ago, and further weakness was expected when steelmakers shut down furnaces in July and August.The price for silico-manganese, lumpy, 65-75% Mn, basis 15-19% Si (scale pro rata), major European destinations, was last assessed at ?,?870-910 ($976-1,021) per tonne on June 26, down by 7.3% from ?,?940-980 per tonne the week before. The market was at an annual peak of ?,?1,010-1,060 per tonne in mid-May and was last at its current level at the start of January....