Due to the weak steel market demand in China recently,steel mills have begun to limit and stop production on a large scale,and the demand for manganese alloys has continued to be weak.
Facing the severe market situation,the Ferroalloy Industry Association convened more than 40 manganese-related member production units nationwide to hold an video conference.
The meeting reached the following resolutions:
1. From now on,the production will be strictly reduced by more than 60%.
2. Minimize importing manganese ore consumption and avoid risks caused by high mineral prices.
Medium and low carbon ferro manganese today’s markets are showing a gloomy trend. Production capacity cut continues to increase,but prices at both ends of supply and demand are low.Later price changes need to pay attention to the changes in the demand of steel mills.