[SMM Analysis] Posco's stainless Steel production and sales in 2019 reduced the bidding Price of Electrolytic Manganese in May

SMM4, March 15: recently, according to a report released by Posco (POSCO) in South Korea, in 2019, the stainless steel output of Posco Iron and Steel in South Korea was 1.97 million tons, down from 2.033 million tons last year, and the sales volume of stainless steel was 1.968 million tons, also lower than the 2.001 million tons of the previous year. Among them, the crude steel production of Posco Iron and Steel in South Korea increased to 38.007 million tons from 37.738 million tons last year, and the output of steel products, including stainless steel, fell to 35.901 million tons from 35.989 million tons the previous year. Sales rose to 35.99 million tons from 35.588 million tons last year, of which the proportion of domestic sales fell to 55.3% from 57.5% the previous year, and the sales volume of (WTP), the world's top quality product, increased to 10.11 million tons from 9.612 million tons the previous year.

It is reported that the annual operating income of Posco Iron and Steel in South Korea fell to 30.374 trillion won from 30.659 trillion won last year, and its operating profit fell to 2.586 trillion won from 3.809 trillion won last year as a result of rising iron ore prices. Net profit rose to 1.176 trillion won from 1.073 trillion won last year. The full-year operating income of Posco's steel business fell to 49.808 trillion won from 50.421 trillion won last year, operating profit fell from 451.6 million won to 268.7 million won, and net profit fell from 1.272 trillion won to 586 billion won.

According to SMM statistics, Posco of South Korea imported 45000 tons of electrolytic manganese from China in 2019, and the average bidding price for the whole year was 1807 US dollars / ton. However, in the first half of 2020, many countries were seriously affected by the epidemic, and the main iron and steel mills in many countries stopped production and reduced production. Among them, the purchase volume of Posco in South Korea decreased by 890 tons in April 2020 compared with the same period last year, and the average tender price from January to April 2020 was 1575 US dollars / ton. Compared with the average purchase price of US $378a tonne from January to April 2019, according to SMM, Posco in South Korea may announce the May bidding price for electrolytic manganese by Friday, which has become the focus of the current manganese market.

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