LONDON (Metal-Pages) 08-Feb-11. The European ferro-manganese spot market has weakened in the past couple of weeks amid a low level business across the sector, with business not seen picking up until the end of this month, dealers told Metal-Pages on Tuesday.
European high carbon ferro-manganese 75% grade material is €1,050-1,070/tonne, from €1,080-1,120/tonne, while refined grades are about €1,600-1,700/tonne for medium carbon alloy and about €100 more for low carbon material, both off some €70.
“There has been quiet demand in the past three or four weeks,” one dealer said.
“However, not all consumers have covered their raw materials needs through March, so we expect an increase in demand around the end of February, then another couple of quiet weeks before consumers order their quarterly needs for the April-June period.”
Dealers said underlying flat steel demand is healthy and looks set to persist that way through the first half of this year at least. Flat steels are mostly used in car production.
However, in Europe this year, car sales have been mixed. Car sales in the two major European markets ticked up again in January, although fell in others, according to the latest industry data.
In Germany, Europe's biggest car market, new car sales were up 17%, according to the VDA (German automakers association), with particularly strong sales for diesel-powered models.
A key factor in the rise was the falling levels of carbon dioxide emissions for Germany's cars, the VDA said.
French car makers also posted a jump of more than 8%.
However, across the rest of Europe, the picture was more gloomy, with the UK, Europe's third-biggest market, posting a fall in sales of 11.5%.
Ferro-manganese Mn 78% HC delivered European works;
Now: 1080 - 1120 €/t
Previous: 1080-1120 €/t
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