Manganese Alloys and Ore Market Summary June 2017
2017-07-21 16:48:39 【Print】
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Silicomanganese prices in the Chinese market started to soften in early June; on the one hand, declining prices for raw material hit market confidence in the spot market; on the other hand, end demand continued to be soft and suppliers had to lower prices to probe the market. The market mainly conducted orders in June after tenders from steel mills, and traders generally watched the market with frustrated activity due to the sluggish spot market. Mainstream prices for silicomanganese 65/17 stood at RMB6,600-6,800/t (USD975-1,005/t) ex works D/P in mid-June, down by RMB200/t (USD29.56/t) from early June. Since late the month, spot prices for manganese ore at Tianjin port declined sharply by RMB8-10/mtu (USD1.18-1.48/mtu), affected by which, silicomanganese prices dropped to the low level of RMB6,250-6,450/t (USD924-953/t) ex works VAT included D/P accordingly. Prices for silicomanganese 60/14 still remained stable at RMB5,100-5,300/t (USD754-783/t) ex works VAT excluded D/P.
Manganese ore prices remained flat in early-to-mid June, but downstream demand showed no significant improvement since late June and traders lowered quotations substantially in a bid to seek sales with still huge spot stocks at ports; during 19-22 June, spot prices at Tianjin port dipped sharply by RMB8-10/dmtu (USD1.18-1.48/dmtu). However, overseas quotations continue to stand still at high levels and cost is limited while purchases from steel mills increase significantly in July; therefore, manganese ore prices show the momentum of rebounding in July.
Manganese ore prices remained flat in early-to-mid June, but downstream demand showed no significant improvement since late June and traders lowered quotations substantially in a bid to seek sales with still huge spot stocks at ports; during 19-22 June, spot prices at Tianjin port dipped sharply by RMB8-10/dmtu (USD1.18-1.48/dmtu). However, overseas quotations continue to stand still at high levels and cost is limited while purchases from steel mills increase significantly in July; therefore, manganese ore prices show the momentum of rebounding in July.
