Chinese silicomanganese producers hold pessimistic attitudes
2023-03-27 08:37:17 [Print]
BEIJING (Asian Metal) 27 Mar 23 - Most Chinese silicomanganese producers held pessimistic attitudes as the market shows a soft demand and the manganese ore prices continuously decrease. Currently, the mainstream prices of Chinese silicomanganese Mn65%min Si17%min P0.25%max S0.04%max stand weakly stable at RMB7,150-7,350/t (USD1,044-1,074/t) EXW D/P from mid this week. Given the decreased production costs and the sluggish demand, insiders believe that the prevailing prices of Chinese silicomanganese would move down in the following days.
A producer in North China expressed their bearish attitude toward the soft market demand as they could not receive a new order for more than a week. The producer disclosed, "We currently offer RMB7,250/t (USD1,059/t) EXW D/P for silicomanganese Mn65%min Si17%min P0.25%max S0.04%max and we could consider the price as low as RMB7,150/t (USD1,044/t), in line with mid this week". The producer received no inquiry this week and last sold 500t at RMB7,250/t (USD1,059/t) early this month. Given the high inventory level and the decreased manganese ore prices, the producer plans to decrease their price to promote sales and believes that the prevailing prices of Chinese silicomanganese would drop in the coming two weeks.
With an annual production capacity of 250,000tpy of silicomanganese, the producer intends to produce nearly 14,000t in March, down by 6,000t from the previous month due to the soft demand and thin profit. They currently hold no inventory.
Another producer in South China stated, "We maintain a pessimistic attitude to the market now due to the weak downstream demand and decreasing prices of raw materials". The producer noted that their quotation for silicomanganese Mn65%min Si17%min P0.25%max S0.04%max hovers at RMB7,350/t (USD1,074/t) EXW D/P without concession, on par with the middle of this week. They received no inquiry today and last sold 100t at RMB7,350/t (USD1,074/t) two weeks ago. Given that the downstream clients purchase inactively, the producer prefers to firm their price currently due to high production costs but predicts that the mainstream prices of Chinese silicomanganese would decrease in the upcoming weeks.
The producer, based on the annual production capacity of 150,000t of silicomanganese, plans to produce nearly 1,500t this month, in line with last month. The producer holds no stock at the moment.
A producer in North China expressed their bearish attitude toward the soft market demand as they could not receive a new order for more than a week. The producer disclosed, "We currently offer RMB7,250/t (USD1,059/t) EXW D/P for silicomanganese Mn65%min Si17%min P0.25%max S0.04%max and we could consider the price as low as RMB7,150/t (USD1,044/t), in line with mid this week". The producer received no inquiry this week and last sold 500t at RMB7,250/t (USD1,059/t) early this month. Given the high inventory level and the decreased manganese ore prices, the producer plans to decrease their price to promote sales and believes that the prevailing prices of Chinese silicomanganese would drop in the coming two weeks.
With an annual production capacity of 250,000tpy of silicomanganese, the producer intends to produce nearly 14,000t in March, down by 6,000t from the previous month due to the soft demand and thin profit. They currently hold no inventory.
Another producer in South China stated, "We maintain a pessimistic attitude to the market now due to the weak downstream demand and decreasing prices of raw materials". The producer noted that their quotation for silicomanganese Mn65%min Si17%min P0.25%max S0.04%max hovers at RMB7,350/t (USD1,074/t) EXW D/P without concession, on par with the middle of this week. They received no inquiry today and last sold 100t at RMB7,350/t (USD1,074/t) two weeks ago. Given that the downstream clients purchase inactively, the producer prefers to firm their price currently due to high production costs but predicts that the mainstream prices of Chinese silicomanganese would decrease in the upcoming weeks.
The producer, based on the annual production capacity of 150,000t of silicomanganese, plans to produce nearly 1,500t this month, in line with last month. The producer holds no stock at the moment.
