Chinese LC ferromanganese prices increase slightly
2023-03-03 08:34:07 [Print]
BEIJING (Asian Metal) 3 March 23 - Based on the high production costs and the stable demand, most Chinese LC ferromanganese producers increase their prices slightly to cover their costs. Hence, the current prevailing prices of Chinese ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max stand at RMB11,200-11,500/t (USD1,625-1,669/t) EXW D/P, up by RMB100/t (USD14/t) from this Wednesday. Considering the stable demand, insiders believe that the mainstream prices of Chinese LC ferromanganese would stay steady in the following week.
A producer in South China noted, "We offer RMB11,500/t (USD1,669/t) EXW D/P for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max at the moment, and we could consider the counteroffer as much as RMB100/t (USD14/t)". The producer quoted RMB11,500/t (USD1,669/t) as well early this week, but they could accept the price as low as RMB11,300/t (USD1,640/t) at that time. The producer received no inquiry today and last sold 200t at RMB11,300/t (USD1,640/t) early last week. Given the stable demand despite the increased production costs, the trader prefers to keep their price unchanged and believes that the prevailing prices of LC ferromanganese in China would stay unchanged next week.
The producer, with an annual production capacity of 42,000t of LC ferromanganese, intends to produce approximately 2,000t this month, in line with that in February. The producer currently holds around 300t of stocks.
A trader in South China disclosed that their quotation for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max stays at RMB11,500t (USD1,669/t) EXW D/P with no concession at present, while they also quoted RMB11,500t (USD1,669/t) mid this week but could give the discount as much as RMB100/t (USD14/t). The trader noted that they received no inquiry so far this week and last sold 30t at RMB11,300/t (USD1,640/t) early last week. Despite the sluggish from downstream clients, the trader plans to hold their price firm and predicts that the mainstream prices of Chinese LC ferromanganese would remain steady next week supported by the high prices from the suppliers.
With a regular monthly sales trading volume of around 600t of LC ferromanganese, the trader estimates to trade about 600t in March, unchanged from last month. The trader has nearly 100t of inventory now.
A producer in South China noted, "We offer RMB11,500/t (USD1,669/t) EXW D/P for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max at the moment, and we could consider the counteroffer as much as RMB100/t (USD14/t)". The producer quoted RMB11,500/t (USD1,669/t) as well early this week, but they could accept the price as low as RMB11,300/t (USD1,640/t) at that time. The producer received no inquiry today and last sold 200t at RMB11,300/t (USD1,640/t) early last week. Given the stable demand despite the increased production costs, the trader prefers to keep their price unchanged and believes that the prevailing prices of LC ferromanganese in China would stay unchanged next week.
The producer, with an annual production capacity of 42,000t of LC ferromanganese, intends to produce approximately 2,000t this month, in line with that in February. The producer currently holds around 300t of stocks.
A trader in South China disclosed that their quotation for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max stays at RMB11,500t (USD1,669/t) EXW D/P with no concession at present, while they also quoted RMB11,500t (USD1,669/t) mid this week but could give the discount as much as RMB100/t (USD14/t). The trader noted that they received no inquiry so far this week and last sold 30t at RMB11,300/t (USD1,640/t) early last week. Despite the sluggish from downstream clients, the trader plans to hold their price firm and predicts that the mainstream prices of Chinese LC ferromanganese would remain steady next week supported by the high prices from the suppliers.
With a regular monthly sales trading volume of around 600t of LC ferromanganese, the trader estimates to trade about 600t in March, unchanged from last month. The trader has nearly 100t of inventory now.
