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Weekly Review of Electrolytic Manganese (7.6Mel 7.10): the demand for Electrolytic Manganese is weak and the short-term market price is difficult to rise.
Jul 10,2020 17:27CST
translation
Source:SMM
The demand for electrolytic manganese is weak and the short-term market price is difficult to rise.
The content below was translated by Tencent automatically for reference.

As of Friday, the spot ex-factory price including tax in the mainstream area of the manganese triangle has been as low as 9800 million yuan / ton, which is down 50 yuan / ton from the average price last Friday. The spot factory price including tax in Guangxi is around 9900ly10100 yuan / ton, which is 50 yuan / ton lower than the average spot price last Friday.

In terms of the market, we have heard that the negotiations on the spot ex-factory price of electrolytic manganese, including tax, are concentrated at 9800 yuan / ton. after inquiring about orders, individual traders said that it is still difficult to find low-cost sources of goods, but domestic inventories are constantly high, and operators think that manganese prices are difficult to maintain temporary stability, and there may still be downside risks in the later stage. The situation of overseas exports is also difficult to be optimistic. Overseas markets have a summer break in early July. During the recovery period of the epidemic, imports of metal manganese will usher in the off-season of consumption from July to August, but the current demand is reduced, and manganese prices have not fallen sharply again. Therefore, the decline slows down in the short term, mainly in weak and stable operation.

In terms of production, individual areas of the manganese triangle were affected by heavy rainfall during the week, and there were many landslides and floods, which limited the production of manganese factories in their own mines, and there was a temporary suspension of production during the week, as recently signed orders needed to be delivered in July, so production will continue to be delivered after a short suspension of production. In addition, other domestic shutdown manufacturers have not yet indicated the specific time of resumption of production, and the later period is still dominated by wait-and-see. As of Friday, SMM counted that the daily output of electrolytic manganese was maintained at about 3600 tons.

In terms of steel strokes, as of Friday, July steel strokes at home and abroad are nearing the end, and the overall pricing of steel strokes has dropped by more than 700 yuan / ton compared with the previous month. The ex-factory price is basically around 9700 million yuan / ton. At present, most traders are just in need of purchase.

In terms of 200 series stainless steel, the overall trading atmosphere of steel between Sifo and Foshan is stable and weak, the enthusiasm of the downstream terminal to pick up goods in the first half of the week is better, and the transaction becomes weaker in the second half of the week, which is more obvious in South China, and the merchants are mainly flexible in profit-making operation. SMM expects steel prices to be stable and weak to adjust in the later period.

On the whole, under the light terminal demand at home and abroad in July, the price of manganese is difficult to improve, and it is expected that it will continue to operate weakly and steadily next week.

Weekly review
electrolytic manganese

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