= Manganese metal price continues falling, and vanadium price spikes =

The market trend of import of ferroalloy as of 15 May 2015 is as follows.

 

<> Silicon Metal = In the Chinese domestic market, the prices of mainly low-grade products dropped, and the prices of high-grade products of 2202 and 3303 grades were down by CNY100 - CNY200 per ton and CNY400 per ton respectively from the end of April, and the price of low -grade product of 5.5.3 grade was down by CNY500 per ton ditto. Many of producers show reluctance to sell at a cheap price, but the customers' buying motivation is weak and the contract in the market is made preferably for cheap products. As there will be no factor for price hike in a short period, the producers are reducing its offer price little by little while looking for the customers' affordability.

 

In Japan, the price mainly for secondary aluminium products dropped and was reduced by US$50 - US$60 per ton from the end of April. At the present moment, the cheap products with the price being around US$1,800 are sporadically seen, and there is a strong feeling about anticipation of a price fall. 

 

<> Ferro-silicon = In China, the prices of products with Si being 75% and 72% stopped falling . This is because the operating rate of ferro-silicon producers got lowered and the supply volume got reduced, but in some part of the northwestern area, the number of producers which operated in April was more than that in the prior month. Many of producers expect the price will bottom out, and the export offer and contract prices for the product with Si being 75% remained unchanged from the end of April.

 

The Japanese domestic market also has been affected by the price stopping falling in the Chinese domestic market, and the contract price of regularly exported products continued to be flat from the middle of April.

 

The price of the products distributed in the market is down by around US$20 per ton owing to the price stopping falling in China as well as the decreased quantity of roundabout products via a third country.

 

On the one hand, both offer and contract prices for Russian products remained unchanged.

 

<> Silico Manganese = Many of producers in India think the price of imported manganese ore bottomed out, and show reluctance to reduce its offer price for export. However, there are some cases where the offer price has been adjusted downward so as to make the offer price closer to the actual sales price by decreased export incentive portion implemented on April 1.

 

In Japan, the buying motivation for silico manganese is weak due to anticipation of the production of ordinary steel in the period from April to June being down by 2.5% from the prior period. Such case is sporadically seen in the spot tenders floated by electric furnace mills as the contract price is determined at a cheaper price than that in April. 

 

The price in China was down by CNY50 per ton from the end of April. This is thought to be due to the operational rate in the northwestern during April being higher than that during March, and the supply volume to the market was up. Besides, there is an anticipation of a price fall in the market because the operational rate in the southern area will go up in the future and the supply volume is forecast to go up. 

 

On the other hand, as to the export meant for Japan, the offer price was lowered in response to the price reduction in the Japanese domestic market, but there has been no particular contract.