[Ferro-Alloys.com] In recent period, ex-work price of silicon manganese 6517 tumbled at RMB4,850-5,150/mt in China and RMB4,300-4,500/mt for 6014. Price of high carbon ferromanganese 65 was quoted at 4,300-4,400/mt while RMB7,000-7,200/mt for medium carbon ferromanganese 75C2.0. Low carbon ferromanganese 80C0.7 was quoted at RMB8,600-8,700/mt.

In terms of new round purchase of steel mills, HBIS put August silicon manganese 6517 drop to RMB5,250/mt delivered price by acceptance while RMB5,200/mt for Shagang Group. Wisco put new round purchase on silicon manganese with RMB5,630/mt from RMB5,700/mt. Sanming Steel put 6517 decrease to RMB5,235/mt payment by half cash half acceptance. Xiangtan Steel purchased 6517 with RMB5,420/mt, dropping by RMB150/mt. Masteel settled 6517 purchase with RMB5,450/mt, reducing by RMB80/mt. Nanjing Iron and Steel Group put silicon manganese put 6517 fix at RMB5,380/mt, edging down by RMB170/mt. Kunming steel purchased 6517 with RMB5,430/mt, dropping by RMB370/mt. Anhuichangjiang Iron and steel put August 6517 purchase at RMB5,250/mt.

As for ferromanganese, WISCO knocked down high carbon ferromanganese with RMB5,200/mt and RMB7,150/mt for medium carbon ferromanganese 75C2.0, dropping by RMB300/mt respectively comparing with July. Nanjing Iron and Steel Group put high carbon ferromanganese 65 purchase with RMB4,300/mt. Kunming steel purchased high carbon ferromanganese with RMB5,340/mt, declining by RMB425/mt. Masteel settled high carbon ferromanganese with RMB4,800/mt, falling by RMB250/mt. Continued lowing purchase drove lot of large ferromanganese factories to cut output or shutdown. As slowing growth demands become worsen, it seems that the movement of manganese alloy in August would be disappointing.

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• [Editor:Sophie]