Silico Manganese Price Outlook in 2024 China Market

Review of Silicon Manganese Price in 2023

In 2023, silicon manganese prices are weak, down from the beginning of the year, the Chinese market has increased significantly, while domestic demand has decreased.

The profit gap between different regions is obvious, and the Inner Mongolia production area is far ahead by absolute advantage. Production in the south has gradually decreased, while new production and subsequent new construction capacity in Inner Mongolia are still increasing. In 2023, silicon manganese production capacity has entered a new era of change and upgrading.

The Output of Silicon Manganese in 2023 in China

In 2023, the highest monthly production was 1,077,300 tons in October, the lowest monthly production was 937,500 tons in April, and the annual monthly average production was 99400 tons. Total output in 2023 was 11.940,200 tons, up 15% from 2022.

Silico Manganese Export in 2023 from China


Outlook of Silicon Manganese in 2024

On December 7, the relevant management units of Inner Mongolia publicized the Summary Table of Ferroalloy Project evaluation and Demonstration Opinions. Through the evaluation of 17 projects, the feasibility report needs to be further improved, with a total capacity of 4.387 million tons; 16 projects have not passed the review, need to supplement and improve the relevant materials as soon as possible to submit, involving a production capacity of 2.177 million tons. From the field investigation of local enterprises, the vast majority of local enterprises in Inner Mongolia have a positive attitude towards the declaration of new capacity of ferroalloy in Inner Mongolia.

It is expected that the new construction of ferroalloy production capacity in Inner Mongolia will peak in 2024, and production is expected to increase significantly from the third quarter of 2025. Inner Mongolia has become the main production area of silicon manganese alloy.

2024 Factors affecting the price of silicon manganese

  • New production capacity in Inner Mongolia.
  • Southern electricity price and policy changes.
  • The elimination of backward production capacity

Overall, in 2023, the price of silicon manganese has fallen for a long time, the overall market confidence is weak, and the imbalance between supply and demand is prominent. However, the Inner Mongolia region is like a rainbow, the cost advantage is obvious, the subsequent new production capacity is huge, and the competition between the production areas is more intense. 2023 is a transitional year, and silicon manganese will enter a new era of capacity change in 2024.

Contact Us Today For Any Inquiry

Scroll to Top