Chinese HC ferromanganese prices decrease
2023-03-17 08:39:56 [Print]
BEIJING (Asian Metal) 17 March 23 - Due to the increased inventory and the decreased manganese ore prices, most HC ferromanganese suppliers in China intend to promote sales and decrease their prices further. Therefore, the present mainstream prices of Chinese ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max stand at RMB6,450-6,550/t (USD933-948/t) EXW D/P, down by RMB100/t (USD14/t) from early this week. Given the decreased raw material prices and weak demand, insiders think that the mainstream prices of Chinese HC ferromanganese would go down further in the following days.
A trader in South China mentioned that they offer RMB6,500/t (USD941/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max and accept the concession as much as RMB50/t (USD7/t) at present, while they offered RMB6,500/t (USD941/t) without concession early this week. The trader failed to receive an inquiry today and last sold 18t at RMB6,450/t (USD933/t) mid this week. Considering that the end consumers decrease their purchase volumes, the trader might decrease their price and predicts that the mainstream prices of Chinese HC ferromanganese would move down next week.
The trader, based on the regular monthly trading volume of 500t of HC ferromanganese, estimates to sell about 300t this month, down by nearly 200t from the previous month due to the sluggish demand. The trader holds around 50t of inventory now.
Another trader in South China revealed, "We currently offer RMB6,600/t (USD955/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max and we could consider the price as low as RMB6,500/t (USD941/t), while we quoted RMB6,600/t (USD955/t) with counteroffers of no more than RMB50/t (USD7/t) at the beginning of this week. The trader mentioned that they received no inquiry today and last sold 20t at RMB6,550/t (USD948/t) late last week. In view of the sluggish demand, the trader plans to cut their quotation to promote sales and predicts that the mainstream prices of Chinese HC ferromanganese would edge down in the coming days.
Based on the regular monthly sales volume of 800t of HC ferromanganese, the trader estimates to sell about 500t in March, down by around 300t from the previous month given the soft demand. They have no stock at the moment.
A trader in South China mentioned that they offer RMB6,500/t (USD941/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max and accept the concession as much as RMB50/t (USD7/t) at present, while they offered RMB6,500/t (USD941/t) without concession early this week. The trader failed to receive an inquiry today and last sold 18t at RMB6,450/t (USD933/t) mid this week. Considering that the end consumers decrease their purchase volumes, the trader might decrease their price and predicts that the mainstream prices of Chinese HC ferromanganese would move down next week.
The trader, based on the regular monthly trading volume of 500t of HC ferromanganese, estimates to sell about 300t this month, down by nearly 200t from the previous month due to the sluggish demand. The trader holds around 50t of inventory now.
Another trader in South China revealed, "We currently offer RMB6,600/t (USD955/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max and we could consider the price as low as RMB6,500/t (USD941/t), while we quoted RMB6,600/t (USD955/t) with counteroffers of no more than RMB50/t (USD7/t) at the beginning of this week. The trader mentioned that they received no inquiry today and last sold 20t at RMB6,550/t (USD948/t) late last week. In view of the sluggish demand, the trader plans to cut their quotation to promote sales and predicts that the mainstream prices of Chinese HC ferromanganese would edge down in the coming days.
Based on the regular monthly sales volume of 800t of HC ferromanganese, the trader estimates to sell about 500t in March, down by around 300t from the previous month given the soft demand. They have no stock at the moment.
