Chinese Manganese Alloys price dropped nearly to the historical level
Chinese Silicon Manganese price has dropped nearly to the historical level during the past 4 weeks. Speculators in ZCE pushed up the price of SiMn from 6130yuan to 9786yuan /mt in 2 weeks, and the Mn prices went up from 3.65usd/dmtu to 6.95/dmtu (semi-carbonated Mn from SA), Australian MN ore lumpy went up to usd8.3/dmtu from usd4.9/dmtu : Gabonese Mn ore sky-hiked to 9usd/dmtu for shipment in Aug. Now, Price of Silicon Manganese collapsed to 6270yaun/mt today. and dropped over 35% , the price of MN ore at the spot market also dropped about 20%. Almost all manufacturers of SiMn lose, and traders of Mn ore even lose more.
That up and down deeply hurt the Manganese industry, but the speculators got huge
returns in a short period. for whole supply chain safety, Miners, traders, and customers of Manganese ore should talk about how to make a stable and solid relationship. otherwise, all insiders in this chain will lose more.