Home / Metal News /  / Weekly Review of Electrolytic Manganese (7.13Mel 7.17): during the week, the trading atmosphere in the electrolytic manganese market is calm, low price and hard to find spot.
Weekly Review of Electrolytic Manganese (7.13Mel 7.17): during the week, the trading atmosphere in the electrolytic manganese market is calm, low price and hard to find spot.
Jul 17,2020 16:07CST
translation
Source:SMM
During the week, the trading atmosphere in the electrolytic manganese market is calm, low price and hard to find spot.
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 is around 9800mur10,000 yuan / ton, which is stable and weak compared with the average price last Friday; the spot including tax ex-factory price in Guangxi is around 9900mur10,100 yuan / ton, which is no big change from the average spot price last Friday.

In terms of the market, the spot talks on electrolytic manganese this week focused on more than 10000 yuan per ton, and the overall transaction atmosphere was relatively calm. as the inquiry order just increased slightly downstream of the electrolytic manganese market in the middle of the month, manganese prices mostly showed a strong trend, and most manufacturers were unwilling to make a transaction of less than 9900 yuan per ton. in addition, some factories temporarily do not have spot resources, mostly to deliver futures orders, and there are few spot resources found at low prices downstream in the short term. The buyer's price reduction sentiment has been unabated, but it is also difficult to occupy a strong position in the negotiations. The market wait-and-see mentality increases in the later period of the stalemate between the two sides, and SMM expects manganese prices to maintain a weak and stable trend next week.

In terms of production, the production and operating rate of manufacturers in the manganese triangle region during the week did not change significantly compared with last week. Affected by heavy rainfall, there was a short-term electric power overhaul of about 10 days, and the total output decreased slightly by about 50 Mill 80 tons. The production of manganese plants in other regions remained stable, most of the production was still dominated by delivery orders, and there were no more spot resources in the plant. Next week, the operating rate of domestic manufacturers is expected to remain stable.

As for 200 series stainless steel, in the second half of the week, private 200 series steel mills raised the 201 guidance price by 100 yuan / ton, the price difference between Xifo and Sifo gradually narrowed, and the social accumulation situation in South China was significantly less than that in the previous period. The signing of terminal spot and August futures orders improved this week, but the actual transaction showed that many traders said that the downstream was not willing to accept the high price, and some merchants would provide a preferential bargaining range according to the transaction volume. In addition, Vietnam lifted the import ban in mid-July, which is good for the domestic 200series export market. SMM expects the market price of 200series cold and hot rolling to continue to run smoothly next week.

Generally speaking, the overall market price of electrolytic manganese maintained a weak and stable operation in mid-late July, and the boost from overseas demand has not improved in the short term, so we still need to wait and see the transaction performance from August to September.

Weekly review
electrolytic manganese

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn