As of Friday, the spot ex-factory price including tax in the mainstream area of the manganese triangle is around 10000-10100 yuan / ton, and the spot ex-factory price including tax in Guangxi is around 10100-10200 yuan / ton. The overall market price of electrolytic manganese in China has maintained a stable operation compared with last Friday. In addition, according to SMM statistics, the average monthly ex-factory price of electrolytic manganese in China in July 2020, including tax, was 9963 yuan / ton, 3.51% lower than the average price in June. In July, the average monthly FOB price of electrolytic manganese in China was 1451 US dollars / ton, down 3.78% from June.
In the market, the spot is concentrated at 10000 yuan / ton in the first half of the week, but the willingness to accept orders at high prices downstream is not strong. South Korea's Posco announced that the purchase quantity of manganese flakes in August was 2527 tons, a sharp decrease of 1669 tons compared with July, and the purchase price increased by 20 US dollars / ton to 1405 US dollars / tonne. Most exporters reported that the demand for manganese products overseas was weak in the third quarter and the support for manganese prices was limited. In the second half of the week, the pricing of individual steel mills in the southern region increased by about 150 yuan / ton compared with the previous week, so market participants believe that the downward space for manganese prices in the later period is limited, and the increase in manganese prices will not be too large in the case of less demand release.
In terms of production and start-up, the 100t / d manganese plant in Chongqing, which was temporarily suspended due to maintenance, began to resume production in early July. SMM expects the total output of electrolytic manganese in Chongqing in August to increase slightly compared with the previous month. In addition, according to SMM research, the resumption of production by domestic manganese plants in early August will not increase significantly, most of which are due to manufacturers' intention to increase the market wait-and-see mentality.
In terms of 200 series stainless steel, the performance of the transaction between Sifo and Sifo is general this week, and the terminal demand of different specifications is different, and the effect of removing the stock from the market is not obvious, but it is not possible to accumulate the stock in the short term. SMM expects that the price of 200 series cold and hot rolled steel will be stable next week.
Generally speaking, SMM expects that manganese prices will continue to operate smoothly next week, and the bidding pricing and procurement volume of domestic mainstream steel mills have become the focus of market attention.