Manganese Alloys and Ore Market Report in October 2016
2017-01-09 16:17:55 【Print】
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As steel mills finished centralized purchases in early October, transactions for silicomanganese were limited during the month
Overseas producers substantially raised their import prices for manganese ore in early-to-mid October. Meanwhile, some Chinese traders pushed up their prices for the material in the spot market, resulting in substantially increased prices in China . Suppliers were reluctant to sell while alloy producers refused to accept higher prices for manganese ore, slowing down in purchasing . As a result, transactions for manganese ore were limited in the spot market . However, affected by increased import prices, prices for manganese ore were expected not to decline in the following two weeks.
. However, as prices for manganese ore were firm, prices for silicomanganese had no room to decrease. After entering late October, steel mills started to make centralized purchases for November with most bidding prices at RMB8,200-8,300/t (USD1,179-1,193/t) by acceptance VAT included delivered to plants, but some steel mills purchased at prices which were lower than those in the spot market, squeezing down prices for manganese ore. In particular, bidding prices of Hebei Iron and Steel and Shagang Group were RMB7,600/t (USD1,092/t) and RMB8,300/t (USD1,193/t) by acceptance delivered to plants VAT included respectively . Affected by the maintenance of Elizabeth port, South Africa made some delays to export manganese ore to China, bring some influences to stocks in the Chinese market . It is expected that import prices for manganese ore will continue to rise in the future.Overseas producers substantially raised their import prices for manganese ore in early-to-mid October. Meanwhile, some Chinese traders pushed up their prices for the material in the spot market, resulting in substantially increased prices in China . Suppliers were reluctant to sell while alloy producers refused to accept higher prices for manganese ore, slowing down in purchasing . As a result, transactions for manganese ore were limited in the spot market . However, affected by increased import prices, prices for manganese ore were expected not to decline in the following two weeks.