[SMM] Summary of first quarter results of major manganese ores and ferrochromium enterprises overseas (updated)

SMM5, 9 May:

Glencore

Glencore reported that it produced 388000 tons of ferrochromium in the first quarter of 2020, down 14000 tons from the first quarter of 2019 and 3 per cent year-on-year. In the 2020 production guidance, ferrochromium production decreased by 340 kt (25 per cent) to 1000 tons, mainly due to the suspension of operations from 26 March 2020 and a phased restart on 1 May, in accordance with the South African national blockade.

"Click to view details: [quarterly Bulletin of Mines] Glencore: Q1 ferrochromium production in 2020 is down 3% year on year, annual production guidance is down 25%.

Eramet

Eramet released its results for the first quarter of 2020, which showed that sales of manganese, which accounts for about 46 per cent of the group's total sales, fell 17 per cent to 359 million euros in the first quarter of 2020. The decline in selling prices (- 41 per cent) was partly offset by an increase in sales (29 per cent for manganese and 3 per cent for alloys). In Gabon, manganese production in Comilog again reached a quarterly record level of about 1.3 million tons (up 28 per cent from the first quarter of 2019). Due to the improvement in logistics performance, manganese ore transport volume has also increased by 25%. During this period, external sales increased significantly, reaching about 1 million tons (up 29%). Manganese alloy production increased to 196 kilotons, an increase of 3 percent over the first quarter of 2019 (an increase of 20 percent over the fourth quarter of 2019), reflecting the nominal production level of the Group's factories, driven by sales of standard products. Alloy sales also increased by 3%.

"Click to view details: [quarterly Bulletin of Mines] Eramet:2020 Q1 Comilog Manganese Mine output increased by 28 per cent year on year to 1.3 million tons compared with the same period last year.

Vale

Vale releases its first quarter 2020 production and sales report. In terms of manganese, the total output of manganese ore in the first quarter of 2020 was 363kt, 19.3% lower than that in the fourth quarter of 2019, and the same as that in the first quarter of 2019. Manganese ore sales reached 219 kt in the first quarter of 2020, down 61.6% and 13.1% from the fourth quarter of 2019 and the first quarter of 2019, respectively. Ferroalloy production totaled 28 kt in the first quarter of 2020, in line with production in the fourth quarter of 2019, while sales totaled 27 kt in the first quarter of 2020, 22.9% lower than in the fourth quarter, due to a slowdown in production as a result of safety maintenance measures at the esFilho plant.

"Click to view details: [quarterly Bulletin of Mines] Vale: Q1 Manganese production in 2020 is basically flat compared with the same period last year and sales are down 13% from the same period last year.

South32

In the nine months to March 2020 (9m YTD20), Australian manganese ore production fell 1 per cent to 2616kwmt, due to a decline in primary circuit production after heavy rains at the end of fiscal year 2019, partly offsetting increased demand for low-cost concentrate ore (PC02) products. Salable production of manganese alloys fell 29 per cent to 81kt in the nine months to March 2020, with one of the four furnaces still offline. In the nine months to March 2020, manganese ore production in the manganese industry in South Africa fell 7 per cent to 1504kwmt as we reduced the use of high-cost trucks and carried out long-term maintenance of the Wessels mine in the fourth quarter, depending on market conditions. In the nine months to March 2020, marketable production of manganese alloys increased by 2 per cent to 48 kt, and the Metalloys smelter is still undergoing temporary maintenance.

"Click to see details: [quarterly Bulletin of Manganese] South32:Q1 Manganese Mine production has dropped by 7 per cent. Manganese alloy production has dropped by 19 per cent.

Chromium concentrate production for the quarter was 310.1 kt, including metallurgical grade 233.6 kt and special grade 76.5 kt,. When added to the first quarter results, total chromium concentrate production for six months was 652.6 kt, divided into metallurgical grade 494.6 kt and special grade 158.0 kt.

"Click to view details: [quarterly Bulletin of Mines] Tharisa:Q1 Chromium concentrate production 310.1kt decreased 9.5% compared with the same period last year

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