Fujian Sangang purchases silico-manganese at 7,700 yuan/mt for Mar 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

The price was up 560 yuan/mt from the purchasing tender for Apr

On Apr 8, #6517 silico-manganese alloy in Inner Mongolia offered at an average 7,700 yuan/mt ex-works on acceptance

Price was up 70 yuan/mt from enquiries