Monthly Manganese Alloys and Ore Market Report May 2018
2018-06-13 11:59:58 【Print】
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1. Market Highlights
In early-to-middle May, most steel mills successively finished purchasing for May at RMB7,900/t (USD1,233/t) Inc-VAT delivered D/A or RMB7,300-7,500/t (USD1,140-1,171/t) Inc-VAT EXW D/P. In the middle of this month, the spot market saw poor demand; silicomanganese prices slightly decreased by RMB150/t (USD23.42/t) to RMB7,150-7,350/t (USD1,116-1,147/t) Inc-VAT EXW D/P following the continuous decrease of quotations of upstream manganese ore. Late this month, some plants in North China shut down submerged arc furnaces owing to the environmental requirements; meanwhile, producers intended to hold prices firm owing to the low stocks, with transaction prices slightly up by RMB50/t (USD7.80/t) to RMB7,200-7,400/t (USD1,124-1,155/t) Inc-VAT EXW D/P. Major Chinese steel mills released purchase prices of silicomanganese for June successively, such as HBIS's purchase price at RMB7,600/t (USD1,186/t) Inc-VAT delivered D/A and that of Shagang Steel at RMB7,550/t (USD1,179/t) Inc-VAT delivered D/A.
This month, as stocks of manganese ore at ports were large, major miners reduced quotations, affected by which spot prices decreased. However, supported by the high production cost, the prices slightly rebounded late this month. Manganese ore prices would keep slightly increasing in the coming week.
In early-to-middle May, most steel mills successively finished purchasing for May at RMB7,900/t (USD1,233/t) Inc-VAT delivered D/A or RMB7,300-7,500/t (USD1,140-1,171/t) Inc-VAT EXW D/P. In the middle of this month, the spot market saw poor demand; silicomanganese prices slightly decreased by RMB150/t (USD23.42/t) to RMB7,150-7,350/t (USD1,116-1,147/t) Inc-VAT EXW D/P following the continuous decrease of quotations of upstream manganese ore. Late this month, some plants in North China shut down submerged arc furnaces owing to the environmental requirements; meanwhile, producers intended to hold prices firm owing to the low stocks, with transaction prices slightly up by RMB50/t (USD7.80/t) to RMB7,200-7,400/t (USD1,124-1,155/t) Inc-VAT EXW D/P. Major Chinese steel mills released purchase prices of silicomanganese for June successively, such as HBIS's purchase price at RMB7,600/t (USD1,186/t) Inc-VAT delivered D/A and that of Shagang Steel at RMB7,550/t (USD1,179/t) Inc-VAT delivered D/A.
This month, as stocks of manganese ore at ports were large, major miners reduced quotations, affected by which spot prices decreased. However, supported by the high production cost, the prices slightly rebounded late this month. Manganese ore prices would keep slightly increasing in the coming week.
