As of Friday, the overall spot price of electrolytic manganese in the southern region fell 50 yuan / ton, and the spot including tax ex-factory price in the mainstream area of the manganese triangle was around 11250-11350 yuan / ton, which was slightly reduced by 50 yuan / ton from last Friday's price. Guangxi spot quotation concentrated around 11350 yuan / ton, down 50 yuan / ton from last Friday's quotation. In addition, the spot price of a small number of manganese plants in other southern regions was understated at 11200 yuan / ton during the week.
In terms of the market, during the week, most manganese manufacturers said that they mainly delivered futures orders, that the spot resources available for transaction were on the low side, and that the market was more calm. The spot price of electrolytic manganese did not fall significantly, but a small number of manganese factories in the southern region reported a spot price of 11250 yuan / ton. Some businesses said that they could still make a profit of 50 yuan / ton in 11200 yuan / ton in the specific transaction negotiations. Therefore, from the overall spot quotation range of the market, we can judge that the late price is looser than before.
In terms of production start, according to the manufacturers in the mainstream area of the manganese triangle, although a small number of manufacturers have stopped production since mid-September, the specific resumption plan has not been determined, mainly because some market participants are weak on the price trend of electrolytic manganese in the later period, coupled with the higher production cost. therefore, the suspension of production continues to wait and see changes in market demand, but the output of the manufacturers who shut down did not have an impact on the overall market. In addition, some operators in the main producing areas of electrolytic manganese also said that the current ore tension also has an impact on production, but the release of actual demand downstream is still the focus of the market.
On the export side, transactions in overseas markets this week were relatively calm, enquiries were few, and transactions were light. Overseas steel recruitment South Korea Posco in November electrolytic manganese purchases fell sharply by 3000 tons, adding to the weak mentality of many exporters towards the future.
In terms of steel recruitment, Jiangsu Nanjing Iron and Steel was the first to launch a tender for manganese ingots in November 2019 as of Friday. It is reported that the tender volume is 3000 tons, an increase of 500 tons over October, and the price has not yet been finalized.
On the whole, the increment and decrease of bidding and purchasing volume of some steel mills in the market is also one of the factors affecting the market price, but at present, many operators are weak on the market price of electrolytic manganese in the future, and will continue to wait and see the performance of market demand release.