ChangXing Ferroalloy Resources Co., Ltd

European market

European silicomanganese (65%Mn; 16-17%Si) is quoted in the range of 1100-1170€/tDDP, compared to 1200-1250€/tDDP a week ago. High carbon ferromanganese (75%Mn) is quoted at 1130-1180€/tDDP (previously 1200-1250€/tDDP). Ferrosilicon (75%Si) prices also continue to fall, with quotes in the range of 1390-1440€/tDDP (previously 1430-1450€/tDDP).

Maritime transport

According to the Shanghai Shipping Exchange on August 2, this week, China's export container transport market was basically stable, transport demand showed signs of slowing growth, and market freight rates continued to adjust. On European routes, transport demand was basically stable, and spot market booking prices fell slightly. On North American routes, transport demand lacked further growth momentum, supply and demand fundamentals weakened, and market freight rates continued to adjust. On the Persian Gulf route, transport demand remained high, supply and demand remained balanced, and market freight rates operated smoothly.

China Steel Trade Industry

Data from the CELP Steel Logistics Professional Committee (CSLPC) showed that China's steel industry business activity index (PMI) fell to 42.5 in July, the lowest level since June 2023. The decline in the index was due to a seasonal decline in demand due to high temperatures and rainfall, as well as the introduction of new standards, which weakened market sentiment.

International oil price

International crude oil prices plunged to their lowest level in eight months on fears of a global recession, with West Texas Intermediate (WT) crude for September delivery on the New York Mercantile Exchange falling $2.79 (3.66%) to $73.52 a barrel.