Manganese prices extend losses as demand dwindles

Published: Aug 30, 2018 13:50 (GMT+8)

Save

Prices in the Chinese market extended their losses on Thursday Aug 30 as profits incentivised producers to lower offers

SHANGHAI, Aug 30 (SMM) – Manganese prices in the Chinese market extended their losses on Thursday August 30 as profits incentivised producers to lower offers, SMM learned.

SMM assessments showed that manganese prices in major production areas have been on a decline this week and lost 650 yuan/mt from a week ago. Latest traded prices on Thursday were heard around 16,700 yuan/mt.

The declining market saw lacklustre trades. Some producers, facing cash flow constraints at the end of the month, lowered offers to offload cargoes. Demand weakened as tenders across steel mills were settled.

Separately, Nanjing Iron and Steel in Jiangsu province settled the purchasing price of silico-manganese for its September tender at 9,200 yuan/mt this week, SMM learned.

This is 730 yuan/mt up from its August tender. Procurement volumes for the September tender stood at 8,000 mt.

Market commentary Manganese Silicomanganese

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 for 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

1 min ago

【Flash | Lumentum Commits $87 Million to Secure AXT’s InP Wafer Capacity Through 2031】

AXT and Lumentum signed a binding capacity reservation agreement for Indium Phosphide (InP) wafer substrates through December 31, 2031. AXT will reserve minimum annual product capacity and support additional capacity, while Lumentum will provide two $43.5 million deposits, totaling $87 million, to be applied as shipment credits. Lumentum is liable for annual purchase shortfalls, subject to specified exceptions, while AXT’s failure to deliver minimum capacity constitutes a material breach. SMM views the six-year commitment as a firm demand signal for InP substrates and high-purity indium. Wafer volumes, diameter mix and corresponding indium consumption were not disclosed.

1 min ago

1 hour ago

【Flash | Industeel Trims October Surcharges Across Mo-Bearing Stainless Grades】

Industeel, part of ArcelorMittal had recently updated its October stainless alloy surcharges. 316L/316LN fell 0.9% MoM to €3,684/t, 316LMo 0.7% to €4,115/t, 317L 0.7% to €4,758/t and 904L 1.0% to €6,768/t. 2205+ and 2507 were nearly flat at €3,724/t and €4,389/t, while UR 254 eased to €7,147/t. The schedule excludes energy surcharge.

1 hour ago

3 hours ago

【Flash | Semtech Adds Cleanroom Space as InP Photonics Demand Ramps】

Semtech said in its Aug. 25 earnings presentation that its data-center photonics portfolio spans gain chips, high-power CW lasers, SOAs and high-speed photodiodes, while it has secured FY2027 equipment deliveries and acquired additional cleanroom space. Semtech acquired HieFo in March, adding US-based InP gain-chip and DFB-laser manufacturing. Q2 FY2027 data-center sales reached $100 million, up 39% QoQ and 91% YoY; Q3 sales are targeted to rise 45% QoQ and 160% YoY. SMM believes the buildout supports medium-term demand for InP and high-purity indium, although no nameplate capacity or indium consumption was disclosed.

3 hours ago