Metalshub launches SiMn price index
Metalshub continues to expand its price coverage of the ferroalloy markets and is pleased to inform its users and subscribers that since March 2021 a new silicomanganese price index is available for the following specifications: 65% Mn min, 16% Si min, 2% C max, 0.25% P max, lump >10 mm on an FCA major European sea port, pre-payment basis. The index will be updated monthly.
As usual, Metalshub is glad to improve the offering for the already existing subscribers: those who are currently subscribed to Metalshub's entire suite of price indices will receive access to the new indicator WITHOUT any additional charge as part of their existing subscription!
Silicomanganese (SiMn) is one of the most demanded and widely used manganese alloys, consumed by the iron and steel industry as a deoxidiser which also helps to improve some mechanical properties of steel. Silicomanganese has additional silicon, which acts as a more powerful deoxidiser. Compared to the standard FeSi75 and HCFeMn, the use of SiMn also leads to a smaller increase in carbon, which makes it a preferred substitute.
Despite three producers in the EU with a total production volume of 500,000-600,000 tonnes of SiMn per year, the European market is highly depends on imports. According to Eurostat data, imports of silicomanganese into the EU are around 650,000 tonnes annually, that covers up to 65% of the local consumption. The main suppliers are Ukraine (>50%), India (10%), South Africa (6%) and Malaysia (3%).
As for all existing Metalshub Price Indices, the silicomanganese index is based on data from negotiations and contracts concluded on Metalshub’s online trading platform and represent a groundbreaking change in the way price discovery is conducted in the industry today.
More than 1000 companies from the metals-industry are registered on Metalshub, generating more than 900 bids and offers per month. In 2020, despite the COVID-19 pandemic, the platform traded volume has tripled and reached > $ 300 M.
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