In early 2015, Mn ore FOB price for February dropped by nearly USD 0.3 /DMTU. HBIS set SiMn purchase price for February at RMB 6000/mt (USD968/mt), down RMB100/mt month-on-month.
On Jan.29th, the Baltic Dry Index (BDI) declined by 5% to 632point, recording the new low since 1986. In addition to the excess capacity, unstable demand and the dropping fuel costs, the shrinking demand of China was considered to be the main driving force.