Monthly Manganese Flake Market Report Aug 2018
2018-09-13 17:54:04 【Print】
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1. Market Highlights
As many steel mills opened biddings together in the last week of July, upstream suppliers expected higher prices and the final transaction prices for spot material reached RMB19,300-19,500/t (USD2,819-2,848/t) EXW D/P, hitting the record high in the past six-and-half years. Downstream demand was weak in August and upstream suppliers were under pressure caused by high inventories. As a result, producers reduced prices successively to sell inventories and withdraw capital. In mid-August, transaction prices for spot material decreased to RMB16,800-17,000/t (USD2,453-2,483/t) EXW D/P, down by RMB2,500/t (USD365/t) from the highest level in July. Then prices edged up as Chinese and overseas steel mills opened biddings successively, but mainstream transaction prices only increased to around RMB17,800/t (USD2,600/t) with weak demand. Downstream steel mills opened biddings and squeezed down on prices. The average purchase price went down by RMB2,000/t (USD292/t) from that of July. In the last week of August, most producers cut ex-works prices to RMB16,700-16,900/t (USD2,439-2,468/t) in order to withdraw capital.
In August, most steel mills in Europe, U.S., India, Japan and South Korea squeezed down on prices and waited on the sidelines except those purchased upon long-term contracts and opened biddings. The market saw limited transactions besides purchases made based on rigid demand. Most consumers consumed stocks purchased earlier. Prices for manganese products are expected to gradually go up in September as downstream consumers start to rebuild stocks.
As many steel mills opened biddings together in the last week of July, upstream suppliers expected higher prices and the final transaction prices for spot material reached RMB19,300-19,500/t (USD2,819-2,848/t) EXW D/P, hitting the record high in the past six-and-half years. Downstream demand was weak in August and upstream suppliers were under pressure caused by high inventories. As a result, producers reduced prices successively to sell inventories and withdraw capital. In mid-August, transaction prices for spot material decreased to RMB16,800-17,000/t (USD2,453-2,483/t) EXW D/P, down by RMB2,500/t (USD365/t) from the highest level in July. Then prices edged up as Chinese and overseas steel mills opened biddings successively, but mainstream transaction prices only increased to around RMB17,800/t (USD2,600/t) with weak demand. Downstream steel mills opened biddings and squeezed down on prices. The average purchase price went down by RMB2,000/t (USD292/t) from that of July. In the last week of August, most producers cut ex-works prices to RMB16,700-16,900/t (USD2,439-2,468/t) in order to withdraw capital.
In August, most steel mills in Europe, U.S., India, Japan and South Korea squeezed down on prices and waited on the sidelines except those purchased upon long-term contracts and opened biddings. The market saw limited transactions besides purchases made based on rigid demand. Most consumers consumed stocks purchased earlier. Prices for manganese products are expected to gradually go up in September as downstream consumers start to rebuild stocks.
