Chinese HC ferromanganese prices drop
2023-03-15 08:29:58 [Print]
BEIJING (Asian Metal) 15 Mar 23 - Considering that the downstream demand stays at the stable level and the inventory level starts to increase, most HC ferromanganese suppliers in China decreased their prices these days. Currently, the prevailing prices of Chinese ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max stay at RMB6,550-6,750/t (USD952-981/t) EXW D/P, decreased by RMB100/t (USD14/t) from the end of last week. Given the thin profit despite the increased inventory, insiders expect that the prevailing prices of Chinese HC ferromanganese would stay firm this week.
A producer in North China mentioned, "We currently offer RMB6,500/t (USD945/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max with no discount, while we quoted RMB6,600/t (USD960/t) and could not consider any counteroffer late last week". The producer failed to receive a new order today and last sold 200t at RMB6,550/t (USD952/t) early this week. Despite the increased inventory and the soft demand, the producer plans to keep their price unchanged and predicts that the mainstream prices of Chinese HC ferromanganese would not decrease again in the following days supported by the high production costs.
The producer, with an annual production capacity of 40,000t of HC ferromanganese, prefers to produce nearly 700t in March, unchanged from last month. They currently hold about 100t of inventory at present.
Another producer in North China stated that their quotation for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max stands at RMB6,700/t (USD974/t) EXW D/P today and they could consider the counter offer of RMB6,500/t (USD945/t), while they also offered RMB6,700/t (USD974/t) at the end of last week but could only accept the concession as much as RMB100/t (USD14/t) late last week. The producer closed no deal today and last sold 200t at RMB6,700/t (USD974/t) at the beginning of last week. Considering the thin profit, the producer plans to firm their price currently and believes that the mainstream prices of Chinese HC ferromanganese would remain stable in the coming days despite the weak demand.
Based on the annual production capacity of 100,000t of HC ferromanganese, the producer would like to produce around 10,000t this month, unchanged from last month. The producer holds about 1,000t of inventory at the moment.
A producer in North China mentioned, "We currently offer RMB6,500/t (USD945/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max with no discount, while we quoted RMB6,600/t (USD960/t) and could not consider any counteroffer late last week". The producer failed to receive a new order today and last sold 200t at RMB6,550/t (USD952/t) early this week. Despite the increased inventory and the soft demand, the producer plans to keep their price unchanged and predicts that the mainstream prices of Chinese HC ferromanganese would not decrease again in the following days supported by the high production costs.
The producer, with an annual production capacity of 40,000t of HC ferromanganese, prefers to produce nearly 700t in March, unchanged from last month. They currently hold about 100t of inventory at present.
Another producer in North China stated that their quotation for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max stands at RMB6,700/t (USD974/t) EXW D/P today and they could consider the counter offer of RMB6,500/t (USD945/t), while they also offered RMB6,700/t (USD974/t) at the end of last week but could only accept the concession as much as RMB100/t (USD14/t) late last week. The producer closed no deal today and last sold 200t at RMB6,700/t (USD974/t) at the beginning of last week. Considering the thin profit, the producer plans to firm their price currently and believes that the mainstream prices of Chinese HC ferromanganese would remain stable in the coming days despite the weak demand.
Based on the annual production capacity of 100,000t of HC ferromanganese, the producer would like to produce around 10,000t this month, unchanged from last month. The producer holds about 1,000t of inventory at the moment.
