[SMM Analysis] the spot Price of Electrolytic Manganese in China showed a downward trend in the Middle of October

According to SMM, the spot price in the main producing area of domestic electrolytic manganese has maintained a relatively stable price level since mid-September to mid-October. The mainstream market price is concentrated at about 11350 yuan / ton, and the price range for signing futures orders is around 11000-11100 yuan / tonne. During this period, most manganese factories in the southern region are obviously willing to offer prices, and some operators say that they do not want to be less than 11300 yuan / ton, mainly due to the support of the production cost of electrolytic manganese. As well as the small rise in the bidding price of electrolytic manganese in early October, the price of manganese has been stable for a long time. However, due to the significant reduction in the tender purchase volume of electrolytic manganese in China in overseas markets from low September to mid-October, and the planned reduction in production of 200 series steel mills in the lower reaches of China in October, the overall release of electrolytic manganese at the demand end of domestic and foreign electrolytic manganese has a decreasing trend. Although the spot quantity of electrolytic manganese in manganese plants is lower than before, a small number of manganese plants have stopped production and maintenance, and have not resumed production for the time being, but the overall market supply is still greater than demand. Therefore, the manganese price may continue to operate weakly and steadily in the short term, waiting for the determination of domestic steel recruitment price and the statistics of purchasing volume in November.

At present, the market transaction is still mainly domestic, most of the delivery orders, the number of spot in the factory is not much. Export prices have not increased significantly, the overall trend has been stable and weak, many exporters said that now overseas enquiries in general, the price pressure is more obvious, the transaction performance is not good.

(the following figure shows the export price statistics of electrolytic manganese FOB)

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