European prices for ferromanganese and silicomanganese have been largely flat over the last month as weak demand from Europe has offset higher bids from India. Ferromanganese with 78 percent metal content is currently trading between 870 and 890 euros per metric ton, while silicomanganese prices are between 890 and 910 euros.
Silicomanganese is mainly used in construction steels, while most ferromanganese goes into flat steels that are primarily used in automobiles.
“There have been stronger export offer prices from India, although there is not the demand in Europe to justify buying such material,” one dealer told Metal-Pages. “However, we may see a slight price increase in Europe in the near term as it is difficult to get material below [900 euros] a tonne.”
The market outlook is for steady prices over the next few weeks until quarterly delivery contracts are negotiated in the first half of December.
Why Have Most Investors Forgotten About Metals - One Of The Safest Investments In The World?Discover everything you need to know to diversify your portfolio with metals. Click below to download a FREE industry report on critical metals investing.
Get My Investor's Guide
Click here to download for free