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Weekly Review of Electrolytic Manganese (4.7-4.10) the transaction of Electrolytic Manganese within the week shows that the closing market of 200 series steel mills has set off a tide of rising prices.
Apr 10,2020 17:31CST
translation
Source:SMM
The transaction of electrolytic manganese within a week shows that the price of sealing steel in 200 series steel mills has been raised one after another.
The content below was translated by Tencent automatically for reference.

As of Friday, the ex-factory price of spot tax in the mainstream area of the manganese triangle was 10300-10500 yuan / ton, unchanged from the average price on Friday. The spot quotation in Guangxi on Friday was around 10400-10500 yuan / ton, which was stable compared with the average price on Friday. In addition, the average price of FOB in March fell 221 US dollars / ton from the average price in February, and the quotation range of FOB electrolytic manganese in China remained stable at 14901510 US dollars / ton as of Friday compared with last Friday.

In terms of production, at present, the total daily supply of electrolytic manganese in China is close to 4000 tons, of which the daily output of manganese plants in some areas has been slightly increased to about 200 tons. Some operators said that the high operating rate has had a negative impact on the future manganese price adjustment, and the manufacturers have lost their support.

In terms of steel recruitment, as of Friday, most domestic steel mills had set the purchase price by bidding in April, and the purchase price range of manganese metal products revolved around 11000-11260 yuan / ton. Among them, the pricing of some steel mills purchasing manganese ingots and manganese balls is basically concentrated in the ex-factory price of electrolytic manganese is about 10300 yuan / ton, which is more than 2000 yuan / ton lower than the overall pricing of steel mills in March. In addition, the purchasing price of manganese sheets in some steel mills is as low as 10500 yuan / tonne. Many manganese mills and traders have strengthened their reluctance to take the initiative to accept orders and supply goods, saying that they will have a negative impact on manganese prices in the future.

On the export side, foreign traders received overseas inquiries within the week, but did not conclude a large number of transactions. According to SMM, many overseas countries have been seriously affected by the epidemic. Local steel mills have stopped production and reduced production in the main exporting countries of manganese (India, Russia, Brazil, etc.). Therefore, it is expected that imports of electrolytic manganese and manganese products will decrease significantly in April. On the basis of high domestic supply, it is difficult for overseas demand to support an increase in manganese prices. There may also be room for a small drop in the shade.

Next week forecast: SMM expects short-term electrolytic manganese spot trading may be weak stable in the vicinity of 10200-10300 yuan / ton, it is difficult to show signs of rising market demand.

 

Weekly review

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