As of Friday, the overall spot price of electrolytic manganese in the southern region has dropped by 50-100 yuan / ton, and the spot including tax ex-factory price in the mainstream area of the manganese triangle is concentrated 11250 yuan / ton, which is slightly reduced by 50 yuan / ton from last Friday's price. Guangxi spot quotation around 11200-11300 yuan / ton, 100 yuan / ton lower than last Friday's offer, in addition, the spot price of a small number of manganese plants in other parts of the south is less than 11200 yuan / ton.
On the market side, although manganese prices gradually declined this week, but some market participants said that the overall actual transaction atmosphere is calm, downstream procurement enthusiasm is not high. During the week, most manganese plants mainly deliver futures orders, which are currently discussed at 10900-11000 yuan / ton, and the transaction price of futures orders is down about 100 yuan / ton compared with last week. As a result, it can be seen that the bidding mood of many manufacturers is a little looser than before. Near the end of the month, the cash turnover pressure of some manufacturers is on the high side, and the retail spot quotation has been lowered, and due to the support of the production cost of electrolytic manganese, the decline of manganese price is limited in the short term.
In terms of production start, with the exception of a small number of manganese plants that have not resumed production since mid-and late September, most manganese plants maintained normal production during the week, but at present there is not much downstream demand release, so supply and demand is still uneven. On the export side, the price of electrolytic manganese FOB fell slightly by US $20 / ton at the beginning of this week to 1610 yuan / ton, with weak overseas demand and a gradual decline in prices.
Steel recruitment, as of Friday Baosteel November electrolytic manganese sheet bidding started, according to SMM learned that the electrolytic manganese sheet open tender quantity of 4000 tons, month-on-month October purchase volume is the same, the purchase price has not yet been determined, more November steel recruitment information SMM will be updated in a timely manner.
To sum up, it is expected that the short-term electrolytic manganese price may continue to operate weakly and steadily, the transaction operation of the two sides is more cautious, and the market of new wheel steel is focused on.