Apr. 28, 2025: Silicon Manganese Latest News
Apr 28, 2025
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Apr. 28, 2025: Silicon Manganese Latest News(7126, -152.00, -2.09%) : Supply: Output in the main production areas has been continuously declining, but the decline has slowed down recently. According to data from China Steel United, as of the week ending April 25th, the weekly output of silicon and manganese was 186,000 tons, with an average daily output of 26,600 tons. It decreased by 1.35% week-on-week, slightly lower than market expectations, but still increased year-on-year.
Demand: Steel bidding is ongoing, pricing is gradually decreasing, and the downstream purchasing willingness is relatively limited. In April, a large steel mill in Hebei Province purchased 11,400 tons of silicon-manganese alloy, an increase of 400 tons compared to March. The acceptance and tax-inclusive arrival price was 5,950 CNY per ton, a decrease of 450CNY per ton compared to the previous month. After the mainstream steel bidding price was announced, other steel bidding activities were carried out successively.
Inventory: The inventory of sample enterprises has been continuously increasing, and the number of warehouse receipts remains relatively high. The inventory of silicon and manganese in steel mills is relatively low. This month, the inventory of the sample enterprises has continued to increase month-on-month. As of April 25th, the combined inventory of the 63 sample enterprises was 181,800 tons, an increase of 24,200 tons compared with the previous month, representing a growth rate of 15.36%. As of April 24th, the number of silicon and manganese warehouse receipts was 123,183, with 10,301 valid forecasts, totaling 133,484, approximately 667,000 tons. In April, the available days of silicon and manganese inventory in steel mills were 15.44 days, a decrease of 1.17 days compared with the previous month and 0.33 days compared with the same period last year.
Cost: The price of manganese ore at the port has been continuously falling. As of April 24th, the consolidated price of manganese ore Mn44.5% in Gabon was 38CNY per ton, a decrease of 6CNY per ton compared with the previous month. The consolidated price of 45% Australian mine MN is 38CNY/ ton-kilowatt-hours, a month-on-month decrease of 6.5CNY/ ton-kilowatt-hours. The consolidated price of 36.5% semi-carbonated MN in South Africa is 38CNY/ ton per kilowatt-hour, a month-on-month decrease of 3CNY/ ton per kilowatt-hour, indicating limited support from the cost side.
Summary: Market sentiment has been disturbed, cost support has weakened, and production cuts are still needed to ease the contradiction between supply and demand. The prices of silicon and manganese are mainly fluctuating at a low level. This month, the overall performance of the black sector was relatively weak, with the prices of silicon and silicon falling significantly. From a fundamental perspective, terminal demand is relatively weak. The steel bidding price this month has dropped significantly compared to last month. Under the circumstances of low prices, the downstream's willingness to purchase and stock up is not strong, and the market's wait-and-see sentiment is relatively strong. On the cost side, the price of manganese ore continued to fluctuate and weaken this month, with a significant decline, and the cost support was not strong. Although the supply side is working hard to reduce production, the extent of the cut is lower than the market's previous expectations. In conclusion, the fundamental support for silicon and manganese in the near future is limited, and there is a lack of a breakthrough driver. Production cuts are still needed to alleviate the contradiction between supply and demand. It is expected that the short-term prices of silicon and manganese will mainly fluctuate at a low level.
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