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Weekly Review of Electrolytic Manganese (4.20-4.24): during the week, the center of gravity of manganese market is temporarily stable, and individual steel mills open tenders in May.
Apr 24,2020 18:06CST
translation
Source:SMM
Manganese city trading center of gravity temporarily stabilized during the week individual steel mills open tender in May
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 around 10400-10500 yuan / ton, flat from the average price on Friday, while the spot quotation in Guangxi on Friday was around 10400-10500 yuan / tonne, a slight increase of 50 yuan / tonne from last Friday's average price.

In addition, as of Friday, China's FOB electrolytic manganese quotation range was raised by $10 / tonne from last Friday to $1510 / tonne. The European electrolytic manganese market price also rose by $10 / tonne this week compared with last week. The quotation range is $15801630 / tonne.

In terms of market transactions, at the beginning of the week, most of the manganese factories in various regions produced and delivered April orders, high-priced goods were available, and low-price resources were difficult to find. Although some operators said that the negotiation range of futures orders was concentrated in 10300 yuan / ton, most manganese plants were too low because of the low price of futures orders, which was restricted by the higher production cost of electrolytic manganese and was difficult to accept the signing of futures orders. The overall retail spot resources in China are concentrated in 10500 yuan / ton, and the trend of the pricing atmosphere is enhanced, but the willingness to accept purchase downstream is not high, and the game atmosphere of market supply and demand appears. With the opening of steel recruitment in May, the inquiry situation of downstream merchants increases, and the demand for replenishment may be released to increase. It is expected that the development of manganese price will run stably in the later stage.

In terms of steel recruitment, individual steel mills at home and abroad have started the May manganese procurement plan, in which Nanjing Iron and Steel May manganese ingot procurement volume is 1500 tons, month-on-month April procurement volume is the same, the tender price has not yet been finalized. In addition, Posco in South Korea announced during the week that the purchase price of manganese tablets in May was slightly higher than that in April by US $5-10 / ton to US $1475 / ton. This phenomenon also led many operators to say that the rise and fall of manganese prices next week is limited, and that the short-term temporary stability is flat.

Weekly Review
Electrolytic Manganese

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