Core Facts
On August 6, silicon-manganese futures prices traded in a narrow range, with the main contract settling at 5,634 yuan/tonne, up 0.04% period-on-period. Open interest increased by 3,084 lots period-on-period to 449,900 lots. In spot markets, prices for 6517-grade silicon-manganese stood at approximately 5,480-5,650 yuan/tonne across regions, with Guangxi prices raised by 50 yuan/tonne from the previous day.
Market Changes
From a fundamental perspective, manganese ore prices have yet to stop falling, and no obvious improvement has been seen in manganese ore supply and demand. Downstream buyers show a strong willingness to bargain prices. Yesterday, the aggregate prices of Gabonese ore, Australian ore, and South African semi-carbonate ore at Tianjin Port all fell by 0.2 yuan/tonne-degree period-on-period, weakening cost support. On the supply side, weekly silicon-manganese output has declined for five consecutive weeks period-on-period. Operating rates in Inner Mongolia, Ningxia, and Guangxi declined period-on-period, while Yunnan's operating rate rebounded. Total silicon-manganese output in July was 764,000 tonnes, down 30,000 tonnes period-on-period and down 55,000 tonnes year-on-year.