It is said that Shagang Group set to purchase silicon manganese amid reducing stocks. The company plans to purchase 18.6 thousand tons on the basis of 18.8 thousand tons. In fact, the spot resources for silicon manganese began to show a little bit tight, especially for those cheap quotations, which led some producers to edge up prices.
Thanks to huge cost pressure, the operation rates of silicon manganese still kept at low level with waning confidence, which would make steel mills suffer hurdle if they further cut purchase on raw material.
In short, given most suppliers refused to sell at low point, it is estimated that June purchase of steel mills would likely to level off or even lift up.