Price escalation in the ferroalloy market

Week with the same trends that have been seen since the beginning of the year, with rising prices and clear support from the industry. Standard SiMn already stands at levels of EUR 1,250 to EUR 1,350 delivered DDP in Europe. It represents an increase of more than 40% since the beginning of this year and touching the highest of the last 15. These prices are a consequence of the low production levels in Europe. The Russia-Ukraine conflict escalates and we will therefore see a decrease / disappearance of imports from Ukraine of Mn alloys (mainly SiMn) https://www.efe.com/efe/espana/mundo/los-ucranianos-se-mobilizar- before-the-russian-threat / 10001-4511526 Supplies from India have fallen due to the container crisis that still persists and Malaysia with the declaration of force majeure from one of its producers has also reduced shipments to Europe The FeMn HC is evolving similarly to the SiMn with a certain offset and was already close to 1200 EUR delivered in Europe The refined FeMn continues its climb, there is no material from S Korea and the prices are already close to 2000 euros per ton