Chinese silicomanganese prices stay firm
2023-04-23 22:27:46 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Most suppliers in China intend to firm their prices despite the demand still stays weak. Currently, the mainstream prices of Chinese silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max stands at RMB6,950-7,150/t (USD1,008-1,037/t) EXW D/P, unchanged from late last week. Given the decreased production costs and the soft demand, insiders believe that the mainstream prices of silicomanganese would decline in the coming days.
A producer in North China revealed that they hold their quotation for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max unchanged from late last week at RMB7,000/t (USD1,015/t) EXW D/P, and they refuse to consider any concessions. The producer mentioned that they currently only sold to steel mills and could not receive orders from traders. They last sold 800t at RMB7,000/t (USD1,015/t) early last week. Given that the downstream demand still shows soft, the producer currently intends to firm price but believes that the mainstream prices of Chinese silicomanganese would edge down in the following week.
With the annual production capacity of 100,000t of silicomanganese, the producer holds their production level unchanged from last month at 5,000t, and they have no inventory now.
A trader in North China stated, "We quote RMB7,000/t (USD1,015/t) EXW D/P for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max without discounts, on par with the end of last week". The trader noted that they have not received orders from traders for more than two weeks and they last sold 500t at RMB7,000/t (USD1,015/t) to a steel mill two weeks ago. Because of the sluggish demand and decreased production costs, the trader plans to firm the price now but forecasts that the mainstream prices of Chinese silicomanganese would edge down in the upcoming week.
The trader, based on the typical monthly trading volume of 2,000t of silicomanganese, expects to sell around 1,000t this month, unchanged from the previous month. They hold around 200t of stocks at the moment.
A producer in North China revealed that they hold their quotation for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max unchanged from late last week at RMB7,000/t (USD1,015/t) EXW D/P, and they refuse to consider any concessions. The producer mentioned that they currently only sold to steel mills and could not receive orders from traders. They last sold 800t at RMB7,000/t (USD1,015/t) early last week. Given that the downstream demand still shows soft, the producer currently intends to firm price but believes that the mainstream prices of Chinese silicomanganese would edge down in the following week.
With the annual production capacity of 100,000t of silicomanganese, the producer holds their production level unchanged from last month at 5,000t, and they have no inventory now.
A trader in North China stated, "We quote RMB7,000/t (USD1,015/t) EXW D/P for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max without discounts, on par with the end of last week". The trader noted that they have not received orders from traders for more than two weeks and they last sold 500t at RMB7,000/t (USD1,015/t) to a steel mill two weeks ago. Because of the sluggish demand and decreased production costs, the trader plans to firm the price now but forecasts that the mainstream prices of Chinese silicomanganese would edge down in the upcoming week.
The trader, based on the typical monthly trading volume of 2,000t of silicomanganese, expects to sell around 1,000t this month, unchanged from the previous month. They hold around 200t of stocks at the moment.
