China Silicomanganese Alloy Market Movement: Silicomanganese Alloy Price Fluctuates Weakly, Steel Market Remains Sluggish (2013-3-6)-Shanghai Metals Market

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China Silicomanganese Alloy Market Movement: Silicomanganese Alloy Price Fluctuates Weakly, Steel Market Remains Sluggish (2013-3-6)

Price Review & Forecast 05:34:02PM Mar 06, 2013 Source:SMM

SHANGHAI, Mar. 6 (SMM) – Steel prices in 28 major domestic cities dropped. Rebar prices (20mm) were down RMB 1/mt from the previous day, to RMB 3,916/mt. Price of steel plate (20mm) was down RMB 11/mt, to RMB 4,036/mt. Besides, some steel plants that had hiked March ex-works prices began to lower prices again.

The steel market had improved at a time after the Chinese New Year holiday, so some steel plants raised ex-works prices for major products for March. Besides, the China Federation of Logistics & Purchasing (CFLP) announced February PMI was 58.9%, a record high for the year. But severe overcapacity and high inventories show the industry is still in difficulties. According to the ten-day report of the CISA, domestic daily crude steel output in mid-February was at a near-month high of 2 million mt. Meanwhile, steel inventories at its member enterprises grew to 12.93 million mt, up 33.4% from early in the year, and the highest since August 2012. Domestic steel inventories hit a new high in February. By March 1st, trading inventories of the five major steel products grown for the 11th consecutive week to 21.751 million mt, up 1.367 million mt from the previous week, and up 2.932 million mt YoY.

The silicomanganese alloy market fluctuated weakly as the steel market remained sluggish. The market lacked confidence as spot SiMn 65/17 prices dropped along with procurement prices by steel plants, with traders taking a wait-and-see attitude. Meanwhile, quotes for manganese ore continued to rise. According to SM sources, GECC quoted lump (mn44-45%Fe<5%P) for China at USD 5.7/mtu in April, and granule (mn43%Fe<5%P) at USD 5.3/mtu, both up USD 0.4/mtu. But goods overseas might be unpopular due to sluggish silicomanganese alloy market.

Mainstream quotes for silicomanganese alloy today:
 

Product
Brand
Province
Mainstream Prices Today (RMB/mt)
Mainstream Prices on Mar. 5 (RMB/mt)
Fluctuation
Note
Silicomanganese alloy
6517
Liaoning
6950-7050
6950-7050
Ex-works, including tax
Silicomanganese alloy
Hunan
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Henan
6400-6500
6400-6500
Excluding tax,
Trading Market
Silicomanganese alloy
Guangxi
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Sichuan
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Yunnan
6600-6700
6600-6700
Ex-works, including tax
Silicomanganese alloy
Guizhou
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Ningxia
6850-6900
6850-6900
By acceptance, ex-works, including tax
Silicomanganese alloy
Shanxi
6800-6850
6800-6850
Ex-works, including tax
Silicomanganese alloy
Inner Mongolia
6800-6850
6800-6850
Ex-works, including tax
Silicomanganese alloy
6014
Hunan
5950-6000
5950-6000
Ex-works, including tax
Silicomanganese alloy
Guangxi
5850-5950
5850-5950
Ex-works, including tax
Silicomanganese alloy
Guizhou
5850-5900
5850-5900
Ex-works, including tax
Silicomanganese alloy
Hunan
5600-5700
5600-5700
Ex-works, excluding tax
Silicomanganese alloy
Guangxi
5500-5600
5500-5600
Ex-works, excluding tax
Silicomanganese alloy
Guizhou
5500-5550
5500-5550
Ex-works, excluding tax
Silicomanganese alloy
58#
Hunan
5350-5400
5350-5400
Ex-works, excluding tax
Silicomanganese alloy
55#
Hunan
5200-5250
5200-5250
Ex-works, excluding tax
Silicomanganese alloy
50#
Hunan
4850-4900
4850-4900
Ex-works, excluding tax

China Silicomanganese Alloy Market Movement: Silicomanganese Alloy Price Fluctuates Weakly, Steel Market Remains Sluggish (2013-3-6)

Price Review & Forecast 05:34:02PM Mar 06, 2013 Source:SMM

SHANGHAI, Mar. 6 (SMM) – Steel prices in 28 major domestic cities dropped. Rebar prices (20mm) were down RMB 1/mt from the previous day, to RMB 3,916/mt. Price of steel plate (20mm) was down RMB 11/mt, to RMB 4,036/mt. Besides, some steel plants that had hiked March ex-works prices began to lower prices again.

The steel market had improved at a time after the Chinese New Year holiday, so some steel plants raised ex-works prices for major products for March. Besides, the China Federation of Logistics & Purchasing (CFLP) announced February PMI was 58.9%, a record high for the year. But severe overcapacity and high inventories show the industry is still in difficulties. According to the ten-day report of the CISA, domestic daily crude steel output in mid-February was at a near-month high of 2 million mt. Meanwhile, steel inventories at its member enterprises grew to 12.93 million mt, up 33.4% from early in the year, and the highest since August 2012. Domestic steel inventories hit a new high in February. By March 1st, trading inventories of the five major steel products grown for the 11th consecutive week to 21.751 million mt, up 1.367 million mt from the previous week, and up 2.932 million mt YoY.

The silicomanganese alloy market fluctuated weakly as the steel market remained sluggish. The market lacked confidence as spot SiMn 65/17 prices dropped along with procurement prices by steel plants, with traders taking a wait-and-see attitude. Meanwhile, quotes for manganese ore continued to rise. According to SM sources, GECC quoted lump (mn44-45%Fe<5%P) for China at USD 5.7/mtu in April, and granule (mn43%Fe<5%P) at USD 5.3/mtu, both up USD 0.4/mtu. But goods overseas might be unpopular due to sluggish silicomanganese alloy market.

Mainstream quotes for silicomanganese alloy today:
 

Product
Brand
Province
Mainstream Prices Today (RMB/mt)
Mainstream Prices on Mar. 5 (RMB/mt)
Fluctuation
Note
Silicomanganese alloy
6517
Liaoning
6950-7050
6950-7050
Ex-works, including tax
Silicomanganese alloy
Hunan
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Henan
6400-6500
6400-6500
Excluding tax,
Trading Market
Silicomanganese alloy
Guangxi
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Sichuan
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Yunnan
6600-6700
6600-6700
Ex-works, including tax
Silicomanganese alloy
Guizhou
6700-6800
6700-6800
Ex-works, including tax
Silicomanganese alloy
Ningxia
6850-6900
6850-6900
By acceptance, ex-works, including tax
Silicomanganese alloy
Shanxi
6800-6850
6800-6850
Ex-works, including tax
Silicomanganese alloy
Inner Mongolia
6800-6850
6800-6850
Ex-works, including tax
Silicomanganese alloy
6014
Hunan
5950-6000
5950-6000
Ex-works, including tax
Silicomanganese alloy
Guangxi
5850-5950
5850-5950
Ex-works, including tax
Silicomanganese alloy
Guizhou
5850-5900
5850-5900
Ex-works, including tax
Silicomanganese alloy
Hunan
5600-5700
5600-5700
Ex-works, excluding tax
Silicomanganese alloy
Guangxi
5500-5600
5500-5600
Ex-works, excluding tax
Silicomanganese alloy
Guizhou
5500-5550
5500-5550
Ex-works, excluding tax
Silicomanganese alloy
58#
Hunan
5350-5400
5350-5400
Ex-works, excluding tax
Silicomanganese alloy
55#
Hunan
5200-5250
5200-5250
Ex-works, excluding tax
Silicomanganese alloy
50#
Hunan
4850-4900
4850-4900
Ex-works, excluding tax