Ferroalloy price in China may fall further on weak steel market
According to Mr Zhang Zengchan secretary general of China Ferroalloys Industry Association ferroalloy prices in China are likely to decline further in the coming couple of months owing to weakness of the domestic steel market.
He said that, with constant rises of manganese ore and chromium ore prices that will squeeze their profit margins, some ferroalloys producers will have to cut output, adding this may help rally the price of ferroalloys.
Mr Zhang said if the export keeps soaring, the government may take more measures to limit it, China is the largest ferroalloys producer and exporter in the world.
According to the association China's export volume of manganese alloys surged 27% YoY in January to July, and the total exports for the whole year are likely to hit one million tonnes.
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