Manganese Alloys and Ore Market Report September 2017
2017-10-20 17:28:44 【Print】
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In September, steel mills in China still had a strong demand for silicomanganese and therefore capacity of the material was largely released in main production region. In view of a favorable profit from rebar, steel mills continued to operate at full capacity. As a result, the demand for silicomanganese remained firm. At the same time, prices for manganese ore at ports went up further with prices for silicomanganese showing an uptrend. In late September, prices for silicomanganese stand at RMB7,300-7,500/t EXW VAT included D/P, up by 200/t from early this month. Affected by sluggish demand, prices for silicomanganese 60/14 kept stable at RMB5,400-5,600/t EXW VAT excluded D/P. During mid-September, steel mills opened bidding to purchase silicomanganese successively, and suppliers intended to offer price at RMB8,000/t EXW VAT included D/A. However, steel mills in South China took the lead in setting purchase price at RMB7,800/t EXW VAT included D/A, affected by which market participants lowered expectation and suppliers were less confident about offering high quotations. Finally, HBIS only set benchmark price for silicomanganese at RMB7,600/t VAT included delivered D/A.
In early-to-mid September, prices for manganese ore went up by RMB4.0/dmtu driven by increased downstream silicomanganese prices. At the same time, consumers made collective replenishment during mid-September, leading to relatively good transactions in the spot market with prices supported by strong demand. However, entering in late September, steel mills’ purchase prices failed to meet expectation, so consumers of manganese ore became less interested in purchasing, affected by which prices for the material edged down. Besides, traders planned to clear inventory before the National Day holiday and thus sold stocks at lower prices. By the end of September, prices for manganese ore dropped by about RMB2.0/dmtu.
In early-to-mid September, prices for manganese ore went up by RMB4.0/dmtu driven by increased downstream silicomanganese prices. At the same time, consumers made collective replenishment during mid-September, leading to relatively good transactions in the spot market with prices supported by strong demand. However, entering in late September, steel mills’ purchase prices failed to meet expectation, so consumers of manganese ore became less interested in purchasing, affected by which prices for the material edged down. Besides, traders planned to clear inventory before the National Day holiday and thus sold stocks at lower prices. By the end of September, prices for manganese ore dropped by about RMB2.0/dmtu.
