Base alloy dynamics in the MENA region

Low consumer interest in sourcing manganese and silicon alloys in the MENA region this month against the backdrop of general unfavorable steel industry has put pressure on ferroalloy suppliers.

Siliconmanganese:

Extremely sluggish activity in the silicomanganese sector in May forced suppliers to make concessions amid a small number of buyers.

①Market movements

A major steel producer in Oman procured thousands of tons of alloys (65% Mn; 15%Si）。 Small batches (500 tons per batch) of alloys (65% Mn; 15% Si) is sourced from the Middle East and North Africa at a price of $1000-1010 CIF.

In Turkey, a major consumer is currently tendering for 2,300 tonnes of silicomanganese (71% Mn; 17%Si）。 Next week, an Egyptian steelmaker will tender for the supply of about 10,000 tons of alloys (65% Mn; 16% Si), which will meet its needs for the next 4-5 months.

②Quotation

India (65% Mn; 16% Si) is quoted at $990-1050 CIF.

Turkey also has an offer from Europe for $990 CIF,

Malaysia is quoted at $1050 CIF,

Georgia is quoted at $1250 DDP

Ukrainian material (71% Mn; 17% Si) is quoted in Turkey at $1140-1150 CIF.

Ferrosilicon:

①Market movements

Ferrosilicon (75% Si) from China and Malaysia is quoted at $1570-1650 CIF, and consumers in the Persian Gulf countries and North Africa have no interest in buying ferrosilicon.

②Quotation

In Turkey, due to the active entry of suppliers of Iranian and Russian products, the price is an order of magnitude lower for Iranian alloys (72% Si) at $1320-1380 CPT,

Russian materials (72-75% Si) at $1450-1580 CIF,

Turkish buyers can buy Chinese ferrosilicon (72% Si) for 1480-1510 USD CIF,

the average price in Malaysia (75% Si) is 1640 USD CIF,

1,000 tons of Russian alloy (75% Si) is trading at $1,450 CIF in Turkey.

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