HBIS sets Apr purchasing prices of silico-manganese at 7,850 yuan/mt

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.

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

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

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

In Mar, silico-manganese producers’ offers rose 200-300 yuan/mt from Feb

On Mar 19, #6517 silico-manganese alloy in Inner Mongolia was mostly offered at 7,850 yuan/mt ex-works on acceptance

Luoping government ordered the removal of 34 ferroalloy submerged-arc furnaces with capacity below 20,000KVA