Hebei large steelmaker settles silico-manganese purchasing price at 8,950 yuan/mt in Dec tender

Xiangtan Electrochemical Technology announced that its subsidiary, Jingxi Lijin New Materials Co., Ltd., has basically completed construction of the main part of its 20,000 mt/year spinel-type LMO battery material project.

China silico-manganese futures surged on Monday morning, as concerns about manganese ore supply grew after the major supplier—South Africa announced a raft of measures to slow the spread of coronavirus. The most active silico-manganese futures on the Zhengzhou Commodity Exchange (ZCE) for May delivery surged more than 3% to its highest in over three weeks at 6,298 yuan/mt in morning trade.

Prices of spot manganese have not received significant support from the resumption of downstream demand and have extended their slide this week. SMM expects the prices will remain weak with pressure from elevated inventories of #200 cold- and hot- rolled stainless steel.

Daily output of electrolytic manganese across the region is expected to recover to 100-200 mt in the early stage of the resumption

Muted trades in the spot market grew bearish sentiment about prices

Average spot prices of electrolytic manganese in China’s main production areas fell 325 yuan/mt month the month in Nov

This is down 100 yuan/mt from its tender for Jun

As of Jun 26, some producers hiked offers to 7,600 yuan/mt, ex-work in cash

Power cuts in Inner Mongolia are likely to disrupt supply and boost prices further

HBIS Group settled its purchasing price for 6517 materials at 7,600 yuan/mt, down 250 yuan/mt from Apr