Manganese prices stay firm on production cut at world’s largest producer

Published: Jun 1, 2018 16:35

Save

Manganese prices stayed firm in May as Ningxia Tianyuan Manganese, the biggest manganese producer in the world, cut production by 25% from the middle of May. Purchasing prices in tenders by steel mill

SHANGHAI, Jun 1 (SMM) – Manganese prices stayed firm in May as Ningxia Tianyuan Manganese, the biggest manganese producer in the world, cut production by 25% from the middle of May, SMM believed. Purchasing prices in tenders by steel mills and export prices also remained firm.

As of Friday June 1, SMM assessed manganese in major Chinese markets at 13,100-13,200 yuan/mt, up 1,150 yuan/mt from April 27. Manganese exports are assessed at $2,130-2,160/mt fob, up $175/mt.

Suppliers made firm offers in the June manganese tenders by steel mills and purchasing prices rose across the board. This buoyed the manganese market and encouraged some buyers to stockpile despite high prices.

Compared to the May tender, Nanjing Steel settled its June purchasing price of manganese nodules in a tender at 14,500-14,900 yuan/mt, up 1,420-1,450 yuan/mt. Hebei Steel settled its June purchasing price of manganese ingots in a tender at 14,680 yuan/mt, up 1,680 yuan/mt. Maanshan Steel settled its June purchasing price of manganese flakes in a tender at 14,000 yuan/mt, up 1,600 yuan/mt. Prices include tax and transport, and payments will be made in acceptance. Xiangtan Steel settled its June purchasing price of manganese nodules in a tender at 14,600 yuan/mt, up 1,300 yuan/mt.

Manganese exports saw brisk orders and prices picked up in May. Many manganese producers told SMM that most of the cargoes with high traded prices were delivered to ports. As May ended, resources with relatively low prices were barely seen in the market as exporters had made significant purchases to meet orders. Some cargo holders held back from selling to support their offers. Currently, exporters have to sharply raise their offers on high purchasing costs while the export market continues to see much enthusiasm for purchases. Export prices are approaching the $2,200/mt fob level.

Some market participants expect manganese prices to fall given market speculation that Tianyuan Manganese will resume full production at the end of June, SMM learned. Some market participants remain bullish on manganese prices in June as high purchasing prices across tenders bolstered offers in the spot market, SMM learned.

For editorial queries, please contact Daisy Tseng at daisy@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn

Market commentary manganese

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

21 hours ago

A mine in Henan opened bids for a 300 mt tungsten concentrate auction on February 6.

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

21 hours ago

Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Ganzhou Tungsten Industry Association's February Tungsten Price Forecast] The Ganzhou Tungsten Industry Association's forecast prices for the tungsten market in February 2026 are as follows: 55% black tungsten concentrate at 670,000 yuan per metric ton unit, up 210,000 yuan per metric ton unit MoM from the January price, an increase of 45.65%; ammonium paratungstate at 970,000 yuan/mt, up 300,000 yuan/mt MoM, an increase of 44.78%; medium-grain tungsten powder at 1,630 yuan/kg, up 480 yuan/kg MoM, an increase of 41.74%.

21 hours ago

Tungsten Market Rallies Strongly, Long-Term Contract Prices Surge & Domestic-Overseas Markets Link Up

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

21 hours ago