Weekly Review of Electrolytic Manganese Market (4.22 to 4.26): the Price Center of Electrolytic Manganese Market is strong and stable this week

This week electrolytic manganese market price center of gravity is strong and stable, the trading atmosphere is lighter than last week. By Friday, the price of goods from the main producing areas in China was 13350 yuan / ton (cash ex-factory), and the average price was 100 yuan / ton higher than that on Friday. At the beginning of the week, the market continued to push the price last week, and the transaction center of gravity after the price increase began to be gradually implemented around Friday, but the price has not changed much within this week, as the centralized delivery period for steel mill orders has passed. After entering the week, the release of demand from buyers slowed significantly, and the trading atmosphere was not as good as last week. Futures prices did not rise significantly a month later, still around 12900 to 13000 yuan per ton. Judging from the low futures prices next month, manufacturers' confidence in shipping is not strong. To Friday, the spot mainstream trading center of gravity is still around 13300 to 13400 yuan / ton (cash factory).

The pace of bidding for steel mills has been slightly delayed than usual, and the bidding prices of a number of mainstream steel mills have not yet been introduced. The bidding price of individual steel mills has risen obviously, which is also a kind of support to the price stabilization. According to SMM, in May 2019, the bidding price of metal manganese balls at WISCO was 14400 yuan / ton (including tax acceptance to the plant), and the purchase volume was constant. The price was 560yuan / ton higher than that in April (the April price already included 13% VAT). After converting into the spot price of manganese sheet, it is basically in line with the current market situation. In May 2019, the bidding price of Xianggang metal manganese ball was 14200 yuan / ton (including tax acceptance to the plant), and the purchase volume was 1500 tons, which was 500 yuan / ton higher than that in April (the April price already included 13% VAT).

Forecast for next week: after last month's low tender price but the difficulty of delivery at a low price, steel mill suppliers generally raised the quotation level, so the possibility of continuing to offer a low price this month is greatly reduced, if the bidding result of the steel mill is more satisfactory. It is expected that the price of electrolytic manganese will be stabilized in a narrow range in the short term. For the May Day market, the industry believes that with the steel plant bidding period in the past there is the possibility of weak adjustment, but the current electrolytic manganese demand side performance is still good, the supply is also relatively stable, there is not much room for pullback.

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