Chinese silicomanganese suppliers hold pessimistic attitudes to the market
2023-03-06 08:32:54 [Print]
BEIJING (Asian Metal) 6 March 23 - As many producers hold too much inventory and the downstream clients have no intention to increase purchase volume, the majority of Chinese silicomanganese producers hold pessimistic attitudes to the market at present. Currently, the mainstream prices of Chinese silicomanganese Mn65%min Si17%min P0.25%max S0.04%max stay unchanged from mid this week at RMB7,200-7,400/t (USD1,041-1,070/t) EXW D/P. Given the high inventory and the soft demand, insiders predict that the prevailing prices of Chinese silicomanganese would edge down next week.
A producer in North China disclosed, "We hold a pessimistic attitude to the market as producers hold too much inventory at the moment, and the end consumers would not accept the high prices".The producer noted that they do not quote proactively for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max but could not accept the price lower than RMB7,300/t (USD1,055/t) EXW D/P, unchanged from the middle of this week. The producer received no inquiry this week and last sold 1,000t at RMB7,250/t (USD1,048/t) in mid February. Given the stable demand but the high inventory in the market, the producer intends to decline their price and believes that the prevailing prices of Chinese silicomanganese would drop down in the following week.
The producer, based on an annual production capacity of about 560,000t of silicomanganese, plans to produce 9,000t in March, unchanged from February. The producer holds no inventory at present.
Another producer in the South revealed that they hold a bearish attitude at present as they found the downstream demand stays unchanged but the producers produced more last month. The producer disclosed, "We currently quote RMB7,600/t (USD1,099/t) delivered D/A with the freight of RMB150/t (USD21.69/t) for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max with no concession, on par with mid this week. The producer received no inquiry today and last sold 200t at RMB7,600/t (USD1,099/t) on Tuesday". Given the unchanged demand but the increased inventory, the producer considers decreasing their price and believes that the mainstream prices of Chinese silicomanganese would decrease in the coming days.
With an annual production capacity of about 600,000t of silicomanganese, the producer expects to produce 40,000t this month, unchanged from the previous month. They have no inventory at the moment.
A producer in North China disclosed, "We hold a pessimistic attitude to the market as producers hold too much inventory at the moment, and the end consumers would not accept the high prices".The producer noted that they do not quote proactively for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max but could not accept the price lower than RMB7,300/t (USD1,055/t) EXW D/P, unchanged from the middle of this week. The producer received no inquiry this week and last sold 1,000t at RMB7,250/t (USD1,048/t) in mid February. Given the stable demand but the high inventory in the market, the producer intends to decline their price and believes that the prevailing prices of Chinese silicomanganese would drop down in the following week.
The producer, based on an annual production capacity of about 560,000t of silicomanganese, plans to produce 9,000t in March, unchanged from February. The producer holds no inventory at present.
Another producer in the South revealed that they hold a bearish attitude at present as they found the downstream demand stays unchanged but the producers produced more last month. The producer disclosed, "We currently quote RMB7,600/t (USD1,099/t) delivered D/A with the freight of RMB150/t (USD21.69/t) for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max with no concession, on par with mid this week. The producer received no inquiry today and last sold 200t at RMB7,600/t (USD1,099/t) on Tuesday". Given the unchanged demand but the increased inventory, the producer considers decreasing their price and believes that the mainstream prices of Chinese silicomanganese would decrease in the coming days.
With an annual production capacity of about 600,000t of silicomanganese, the producer expects to produce 40,000t this month, unchanged from the previous month. They have no inventory at the moment.
