Monthly Manganese Alloys and Ore Market Report Oct 2017
2017-11-16 17:26:16 【Print】
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1. Market Highlights
As steel mills in North China limited production during October, prices for silicomanganese dropped by a large margin. In major production regions, the capacity of silicomanganese was largely released; however, the market saw slight overcapacity due to the weak demand from downstream market where steel mills reduced purchases for stocks and slowed down procurement with intentions of forcing price down. In late October, prices for silicomanganese stood at RMB6,750-6,950/t (USD1,017-1,047/t) VAT included EXW D/P, down by RMB550/t (USD82.89/t) from early the month. Affected by the dropped prices for manganese ore at port, prices for silicomanganese 60/14 went down by RMB50/t (USD7.54/t) to RMB5,350-5,550/t (USD806-836/t) VAT excluded EXW D/P. The market saw both weak supply and demand and prices for the material are likely to remain flat in the near future. During late October, there several steel mills that finished bidding of silicomanganese for November with purchasing price only at RMB6,900/t (USD1,040/t) VAT included delivered D/A, a decrease of RMB700/t (USD106/t) from that for October. Most consumers kept watching the market and rarely made purchases, expecting a bearish market outlook.
Prices for downstream silicomanganese alloy dropped significantly in October, but offers for manganese ore of long-term contract were still firm at high levels. Offers for the material from mainstream miners like UMK and BHP kept unchanged and traders at ports held strong interests in keeping price firm due to costs issues. In late October, steel mills’ purchasing prices for silicomanganese went down by a relatively large margin, so consumers of manganese ore made fewer purchases. As a result, traders had no choice but to slightly lower quotations in order to made promote sales.
As steel mills in North China limited production during October, prices for silicomanganese dropped by a large margin. In major production regions, the capacity of silicomanganese was largely released; however, the market saw slight overcapacity due to the weak demand from downstream market where steel mills reduced purchases for stocks and slowed down procurement with intentions of forcing price down. In late October, prices for silicomanganese stood at RMB6,750-6,950/t (USD1,017-1,047/t) VAT included EXW D/P, down by RMB550/t (USD82.89/t) from early the month. Affected by the dropped prices for manganese ore at port, prices for silicomanganese 60/14 went down by RMB50/t (USD7.54/t) to RMB5,350-5,550/t (USD806-836/t) VAT excluded EXW D/P. The market saw both weak supply and demand and prices for the material are likely to remain flat in the near future. During late October, there several steel mills that finished bidding of silicomanganese for November with purchasing price only at RMB6,900/t (USD1,040/t) VAT included delivered D/A, a decrease of RMB700/t (USD106/t) from that for October. Most consumers kept watching the market and rarely made purchases, expecting a bearish market outlook.
Prices for downstream silicomanganese alloy dropped significantly in October, but offers for manganese ore of long-term contract were still firm at high levels. Offers for the material from mainstream miners like UMK and BHP kept unchanged and traders at ports held strong interests in keeping price firm due to costs issues. In late October, steel mills’ purchasing prices for silicomanganese went down by a relatively large margin, so consumers of manganese ore made fewer purchases. As a result, traders had no choice but to slightly lower quotations in order to made promote sales.
