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The spot quotation of electrolytic manganese at home and abroad continues a small upward trend after the weekly review of electric manganese (5.6-5.8).
May 8,2020 18:03CST
translation
Source:SMM
After the festival, the spot quotation of electrolytic manganese at home and abroad continues a small upward trend.
The content below was translated by Tencent automatically for reference.

As of Friday, the spot ex-factory price in the mainstream area of the manganese triangle, including tax, was 50 yuan / ton higher than the average price last Friday, with the overall price around 10550 won / ton. The spot price in Guangxi on Friday was around 10600 won / ton, up 50 yuan / ton from the average price last Friday.

In addition, the quotation range of FOB electrolytic manganese in China on Friday was $10 / ton higher than the average price on Friday, and most of the quotation range was $1510-$1530 / tonne. The market price of electrolytic manganese in Europe also rose $20 / tonne on Thursday from a month earlier, at $1600-$1640 / tonne.

On the market side, a small number of retail spot ex-factory prices in the southern region after the festival are quoted at 10700 yuan / ton. In the rising trend of manganese prices, most buyers say that at present, low-price spot manganese plants are not willing to ship, and other manganese plants are producing and delivering orders in mid-May after the festival. The signing price of futures orders is mostly 10400 yuan / ton, and there is not much spot in the factory, so it is just necessary for buyers to negotiate high prices. After the festival by the increase in ore costs and some steel pricing month-on-month stable or slightly higher support, short-term manganese prices difficult to fall easy to rise, but the overall increase may be limited. In terms of steel recruitment, Shanxi Taigang announced its tender plan for electrolytic manganese in May on Friday, including tax and semi-acceptance of half cash to the factory price of 11000 yuan / ton, the month-on-month purchase price was the same as in April, and the public purchase volume in May was 1000 tons, the same as in April.

In terms of production, manufacturers in some areas of the manganese triangle have reflected that there is not much ore supply, mineral prices have been raised, and the overall production cost has moved up, and the operating rate of individual manganese plants in the southern region has not reached full capacity. In addition, individual manganese plants in Guangxi and the manganese triangle have suffered a long-term loss in profits according to the current spot retail price, and have not resumed production, and some manganese factory operators have indicated that they expect to resume work or wait and see until July. There is no serious surplus in the total supply of electrolytic manganese in China.

Generally speaking, the spot market price of post-holiday electrolytic manganese is supported by cost and the trend of steel move pricing continues to rise steadily in the short term, but the space is limited.

 

Weekly Review
Electrolytic Manganese

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