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[SMM data] the market price of electrolytic manganese is stable, and there are many drops in the stable transaction of 200 series steel.
May 21,2020 18:29CST
translation
Source:SMM
The market price of electrolytic manganese is stable and there is a decline in the stable transaction of 200 series steel.
The content below was translated by Tencent automatically for reference.

According to SMM, this week, some domestic and foreign steel mills have started bidding plans for metal manganese in June. Xiangtan Iron and Steel Co., Ltd. priced the metal manganese ball with tax acceptance at 11290 yuan / ton, up 150 yuan / ton from the previous month, and the purchase volume in June was 1600 tons, an increase of 200 tons from the previous month. In addition, South Korea's Posco opened a tender for electrolytic manganese in June, with a bid volume of 2451 tons, an increase of 266 tons compared with May, and the tender price is uncertain. At present, the spot ex-factory price of electrolytic manganese is basically concentrated at 10700 yuan / ton, but some spot resources in the market have risen to 10900 yuan / ton, so many traders have increased their wait-and-see mentality, but their ability to accept high prices is mediocre when a small number of transactions are needed. therefore, many operators think that there will be a small upward trend in June compared with May.

On the other hand, the factors supporting the slight rise in manganese prices are driven by the recent demise of 200 series stainless steel downstream and the pull-up factors of mainstream steel mill guidance prices. according to SMM statistics, the overall inventory of 200 series cold and hot rolled stainless steel in Sifu and Foshan decreased significantly in April, especially in Foshan, where there are more 200 series inventories. After May Day, mainstream steel mills took the initiative to pull up futures prices, and agents and traders reasonably adjusted the quotations for spot resources. The spot quotation range is basically set at 7300 RMB7400 / ton, driving the terminal to take goods enthusiastically, and the effect of removing the warehouse is obvious in the short term. The downstream demand of 200 series stainless steel in mid-late May is average, and most spot resources have a small callback of 50 yuan / ton for flexible shipments. However, individual spot resources of thin steel are less, and prices are mainly stable. Therefore, the transaction of 200 series stainless steel in May is first strong and then weak. The overall price of cold and hot rolled steel fluctuates steadily in May, and the market is still dominated by shipments.

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