According to SMM, as of mid-October, domestic steel recruitment in October has come to an end. The overall bidding volume of electrolytic manganese in domestic steel mills has not increased or decreased significantly as a whole, and the change in procurement volume is that the bidding volume of electrolytic manganese in November has been greatly reduced by 3000 tons in overseas South Korea, but the purchase price has not been greatly adjusted.
The domestic Hegang Group's procurement plan for electrolytic manganese in October was postponed, with an estimated purchase volume of 900 tons, a sharp decrease of 500 tons from September, but the purchase volume of metal manganese ingots by Hegang Group in October was 390 tons, a small increase of 180 tons.
In addition, Nanjing Iron and Steel slightly reduced the purchase volume of metal manganese ingot steel in October, while the purchase volume of metal manganese ingot in October was 2500 tons, down 300 tons from September.
According to SMM, the reduction of the purchase volume of electrolytic manganese and manganese ingots by some steel mills in October mainly lies in the reduction of downstream demand release, and the weak market and price of 200 series stainless steel downstream, resulting in a low enthusiasm for purchasing raw materials. From the summary of the chart, we can see that the steel price rose slightly in October, with an increase of 200-400 yuan / ton, but the downstream market weakened in the later stage. Many operators believe that the spot price of electrolytic manganese will not always be high, and there will be a slight weakening in the later stage. On the other hand, the overall supply of electrolytic manganese in the southern region has increased, although a small number of manganese plants announced the suspension of production and maintenance in the middle and late September, and so far no resumption plan has been determined. However, the overall reduction in supply has little impact on the market, so the price of electrolytic manganese is expected to weaken steadily in the later stage.