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Weekly Review of Electrolytic Manganese (5.18Mel 5.22): steel moves in June have started to stabilize manganese prices in the short term.
May 22,2020 18:43CST
translation
Source:SMM
In June, steel moves started one after another to stabilize manganese prices.
The content below was translated by Tencent automatically for reference.

As of Friday, the spot factory price including tax in the mainstream area of the manganese triangle is around 10700 won / t, up 50 yuan / ton from the average price last Friday, while the spot ex-factory price in Guangxi region is around 10700 won / t, which is 50 yuan / ton higher than the average spot price on Friday.

On the spot side, the intention to quote the spot resources of electrolytic manganese has moved slightly upward this week, and the spot price of the manganese factory has gradually moved closer from 10650 yuan / ton to 10800 yuan / ton. the buyer has followed up appropriately in the market, and sporadic high-price orders have also appeared. however, some operators think that in May, most of the domestic metal manganese steel prices are flat, it is difficult to stimulate the market to rise further, and some downstream purchases have a suppression mentality on electrolytic manganese prices. Buyers and sellers have a strong game mentality, and the overall price will remain strong in the short term. In terms of production, at present, the total daily supply of domestic electrolytic manganese manufacturers is basically maintained at about 4000 tons. Although individual manufacturers in the manganese triangle area carry out short-term maintenance, there is a slight surplus in spot supply in the market.

In terms of steel recruitment, South Korea's Posco has launched a bidding plan for electrolytic manganese in June, with a purchase volume of 2451 tons, an increase of 266 tons compared with the previous month, but the purchase price has not yet been determined; in addition, Xiangtan Iron and Steel's June metal manganese ball tax acceptance price is 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. According to SMM, although steel mills are determined to reduce prices, there is little room for concessions by manganese mills and traders in the current market, and manganese prices are expected to continue to run firmly in the short term.

Taken together, electrolytic manganese next week may continue this week's situation temporarily stabilized at 10700 murals 10800 yuan / ton, in addition, the latest bidding situation at home and abroad is the focus of the market.

 

Weekly review
electrolytic manganese

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