Latest Update in the China Manganese Market

According to SMM survey on the domestic major aluminium processing enterprises, their operating rates will vary during the National Day holiday, depending on their orders. Most of the small and medium-sized enterprises will close for 3-7 days for the holiday, while larger ones will take a shorter or even no break.

This is a roundup of China's metals weekly inventory as of September 30.

According to SMM statistics, as of September 30, the social inventory of silicon metal in Huangpu port, Kunming, and Tianjin port totalled 120,000 mt, an increase of 1,000 mt on the week.

Silicon metal prices were firm this week. In east China, prices of standard #553 silicon metal were 19,800-20,100 yuan/mt, up 450 yuan/mt or 2% WoW, and those of above-standard #553 silicon metal stood at 20,900-21,200 yuan/mt, up 450 yuan/mt or 2% on the week.

Affected by multiple bearish factors, the “Golden Nine” seasonal high in September fell short of expectations, accompanied by lacklustre downstream orders.

 Steel mills issued bids for SiMn alloy before the National Day holiday due to recovering end demand and low SiMn alloy inventory.

China is a major producer of silicon metal and one of the major exporters of the product. Silicon metal smelting is energy-intensive, so the capacity is mainly located in the north-west and south-west regions with abundant power resources.

With the finalisation of the prices with some first-tier companies, the buyers and sellers have gradually reached a consensus on polysilicon prices. So what is the progress of the order signing? How will the market perform in the future?