Monthly Manganese Flake Market Report May 2020
2020-06-12 17:33:22 【Print】
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1. Market Highlights
In May, Chinese upstream manganese flake producers held low stocks and raised offers gradually with strong expectation for price rise. Tianyuan Manganese continued stabilizing the market by releasing the news of production reduction and purchased spot material from producers in South China to execute orders from stainless steel producers, further consuming spot supply in South China. Besides, Chinese steel mills increased consumption of manganese flake notably this month as prices for manganese alloys still stood high in Chinese market. Based on the above three reasons, manganese flake prices went up steadily in the first two weeks of May. Although producers tended to raise prices after mid-May, but lacked support to do so as downstream customers finished monthly purchase plan successively and demand weakened. In late May, downstream customers showed little interest in making purchases while producers had stronger desire for selling and cut prices successively in order to recoup funds, resulting in decline in mainstream transaction price. Prices for manganese lump and manganese briquette showed the same price trend in manganese flake market, going up first and then going down.
Demand in export market remained sluggish in May. With increasing prices in Chinese manganese flake market, export prices for the material moved up. After mid-May, export prices for manganese flake showed a downtrend as mainstream transaction price dropped in Chinese market and Yuan depreciated sharply.
Some European countries put the lockdown policy to an end, but downstream manganese flake customers mainly consumed inventory and made scarce purchases. India and Brazil were still under the lockdown and few purchases were made. In spite of the slight price rise in Chinese manganese flake market, prices in overseas market stayed steady or moved down.
In May, Chinese upstream manganese flake producers held low stocks and raised offers gradually with strong expectation for price rise. Tianyuan Manganese continued stabilizing the market by releasing the news of production reduction and purchased spot material from producers in South China to execute orders from stainless steel producers, further consuming spot supply in South China. Besides, Chinese steel mills increased consumption of manganese flake notably this month as prices for manganese alloys still stood high in Chinese market. Based on the above three reasons, manganese flake prices went up steadily in the first two weeks of May. Although producers tended to raise prices after mid-May, but lacked support to do so as downstream customers finished monthly purchase plan successively and demand weakened. In late May, downstream customers showed little interest in making purchases while producers had stronger desire for selling and cut prices successively in order to recoup funds, resulting in decline in mainstream transaction price. Prices for manganese lump and manganese briquette showed the same price trend in manganese flake market, going up first and then going down.
Demand in export market remained sluggish in May. With increasing prices in Chinese manganese flake market, export prices for the material moved up. After mid-May, export prices for manganese flake showed a downtrend as mainstream transaction price dropped in Chinese market and Yuan depreciated sharply.
Some European countries put the lockdown policy to an end, but downstream manganese flake customers mainly consumed inventory and made scarce purchases. India and Brazil were still under the lockdown and few purchases were made. In spite of the slight price rise in Chinese manganese flake market, prices in overseas market stayed steady or moved down.
