Monthly Manganese Flake Market Report Apr 2019
2019-06-11 16:33:13 【Print】
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1. Market Highlights
As the new VAT rate took effect on 1 April and demand was weak in early April, most downstream customers of manganese flake squeezed down on prices and waited on the sidelines, resulting in slight decrease in mainstream transaction prices for the material. However, manganese flake producers tended to raise offers with tight spot supply as a large number of producers signed orders for the material to be produced in late April or early May and producers with stocks in hand concluded deals smoothly. During mid-to-late April, prices for Chinese manganese flake 99.7%min still stood at RMB13,200-13,400/t (USD1,919-1,948/t). Purchase prices of both Chinese and overseas steel mills were RMB300-500/t (USD43.62-72.70/t) higher than those of last month. As prices for the material stayed firm in Chinese market, exporters suffered thin profit margin and trade volume declined compared with that of March.
In April, Chinese manganese flake producers ran at a high operating rate, but spot supply remained tight in March and April. On the one hand, Chinese steel mills sharply increased 200 series stainless steel output in March and April; on the other hand, most output of manganese flake in March and April was used to fill the gap left by production suspension of manganese producers in February. Meanwhile, a major producer in North China tended to stabilize market price by limiting output and keeping sales price firm. It's predicted that prices for manganese flake 99.7%min would continue to stand stable in May.
As the new VAT rate took effect on 1 April and demand was weak in early April, most downstream customers of manganese flake squeezed down on prices and waited on the sidelines, resulting in slight decrease in mainstream transaction prices for the material. However, manganese flake producers tended to raise offers with tight spot supply as a large number of producers signed orders for the material to be produced in late April or early May and producers with stocks in hand concluded deals smoothly. During mid-to-late April, prices for Chinese manganese flake 99.7%min still stood at RMB13,200-13,400/t (USD1,919-1,948/t). Purchase prices of both Chinese and overseas steel mills were RMB300-500/t (USD43.62-72.70/t) higher than those of last month. As prices for the material stayed firm in Chinese market, exporters suffered thin profit margin and trade volume declined compared with that of March.
In April, Chinese manganese flake producers ran at a high operating rate, but spot supply remained tight in March and April. On the one hand, Chinese steel mills sharply increased 200 series stainless steel output in March and April; on the other hand, most output of manganese flake in March and April was used to fill the gap left by production suspension of manganese producers in February. Meanwhile, a major producer in North China tended to stabilize market price by limiting output and keeping sales price firm. It's predicted that prices for manganese flake 99.7%min would continue to stand stable in May.
