As of Friday, the ex-factory price of spot tax in the mainstream area of the manganese triangle was 10300-10500 yuan / ton, up 150 yuan / ton from last Friday's average price. Guangxi this Friday spot quotation around 10400-10500 yuan / ton, an increase of 150 yuan / ton from last Friday's average price. According to SMM, the average spot price of electrolytic manganese in Guangxi was 10750 yuan / ton in March, down 1490 yuan / ton from the average monthly price in Guangxi in February, and 10657 yuan / ton in March in the mainstream area of the manganese triangle, down 1503 yuan / ton from the average price of 12160 yuan / ton in February. In addition, the average price of FOB fell US $221 / ton in March from the average price in February.
In terms of production, the operating rate of manganese plants in various regions is on the high side this week. From mid-March to the end of March, the daily supply of domestic electrolytic manganese is maintained at 3800-3950 tons. For the release of downstream demand, it is difficult to facilitate a sharp rise in manganese prices in the future. In addition, there are still some manganese plants with small production capacity in the manganese triangle area, mainly because the current market price of electrolytic manganese is lower and the production cost is higher. In terms of steel recruitment, by the beginning of April, more and more steel mills at home and abroad had determined the new wheel steel recruitment plan, and the price of steel recruitment had dropped by 1000-2000 yuan / ton, and the overall ex-factory price of electrolytic manganese sheet was 10200-10300 yuan / ton. Therefore, many manganese factory operators said that the manganese price may be slightly adjusted back to 10300 yuan / ton after the Qingming Festival in April.
On the export side, as of Friday, Russia announced that in order to fight the new crown pneumonia, the paid leave of the whole of Russia will be extended to April 30, in which domestic exporters said that for the time being, manganese exports to the country have not been adversely affected, but exports to Europe and other ocean-going countries will be reduced or suspended in the future.
To sum up, the post-festival domestic electrolytic manganese spot market may be maintained in the short term around 10300-10500 yuan / ton.