Merafe Resources Limited - Shareholders of the Company are advised that the European benchmark ferrochrome price for the third quarter of 2023 has been settled at 151 US cents per pound, a decrease of 12.2% from the second quarter of 2023.

A Weekly Review of Manganese Alloy Market （6.12-6.16）

The actual supply-demand contradiction of ferrosilicon has not decreased, and whether the market can continue to rise remained to depend on the change of supply-demand relationship.

Under so many negative factors, manufacturers' confidence was insufficient, and their production enthusiasm for was further reduced.

The steel market situation was poor, the magnesium market situation was loose, the ferrosilicon quotation declined slightly again this week.

Worldstainless expects global consumption of stainless steel to be at 0.0% in 2023 and at 3.6% in 2024. Only minor changes in global meltshop production by main grade in 2022 recorded.

Market participants say this would be feasible for the province because it is rich in coal and iron ore resources.

These factors should lead to soaring steel demand in Q3 and Q4, Tuan said.