Hebei steelmaker lowers silico-manganese purchasing price

About 1.2 million mt of manganese ore production in South Africa is expected to be affected by the 21-day nationwide lockdown aimed at containing the coronavirus, a local trader estimates. President Cyril Ramaphosa announced the three-week lockdown on Monday March 23, including closing mines, starting from midnight Thursday March 26.

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

China exported 33,041 mt of unwrought manganese, manganese scrap, power, wrought manganese, manganese products in Jul

TISCO settled its latest purchasing price of manganese flake this week, at 13,300 yuan/mt for its Jan tender

The price, including tax and transport costs, is 150 yuan/mt down from its Nov purchasing price

Nanjing Iron and Steel settled the purchasing price of manganese ingot for its Nov tender at 16,950 yuan/mt this week

Soft demand and accumulating inventory continued to drag down manganese prices this week