Chinese HC ferromanganese suppliers hold pessimistic attitudes
2023-03-07 08:37:48 [Print]
BEIJING (Asian Metal) 7 Mar 23 - As the downstream clients' demand declined in the past month, most Chinese HC ferromanganese suppliers hold bearish attitudes to the market and plan to cut their quotations to maintain sales. Currently, the prevailing prices of Chinese ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max stand at RMB6,850-7,050/t (USD991-1,020/t) EXW D/P, in line with late last week. In view of the soft demand despite the high production costs, insiders expect that the prevailing prices of Chinese HC ferromanganese would decrease slightly in the coming days.
A producer in North China noted that they hold a pessimistic attitude to the market as they felt their clients only purchase from hand to mouth and stay in no hurry to purchase. The producer quotes RMB6,900/t (USD998/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max at the moment and they would accept the price as low as RMB6,850/t (USD991/t), unchanged from late last week. The producer disclosed, "We received no inquiry today and last sold 200t at RMB6,900/t (USD998/t) early last week". As the market still stays in the low position, the producer plans to cut their quotation to maintain sales and predicts that the mainstream prices of Chinese HC ferromanganese would decline slightly in the following days.
The producer, based on an annual production capacity of 60,000t of HC ferromanganese, intends to produce 4,000t in March, on par with the previous month. The producer has around 300t of inventory now.
Another producer in South China disclosed, "We hold a bearish attitude to the current market as we could not accept new orders and our regular clients cut their demand this month". The producer mentioned that they currently quote RMB6,700/t (USD969/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max without discount, unchanged from the end of last week. They received no inquiry today and last sold 300t at RMB6,700/t (USD969/t) mid last week. Although the current production costs stay at a high level, the producer still plans to cut their quotation if they could not receive new orders and believes that the mainstream prices of Chinese HC ferromanganese would move down this week due to the soft demand.
With the annual production capacity of 100,000t of HC ferromanganese, the producer prefers to produce nearly 3,000t in March, unchanged from last month. The producer holds no stock currently.
A producer in North China noted that they hold a pessimistic attitude to the market as they felt their clients only purchase from hand to mouth and stay in no hurry to purchase. The producer quotes RMB6,900/t (USD998/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max at the moment and they would accept the price as low as RMB6,850/t (USD991/t), unchanged from late last week. The producer disclosed, "We received no inquiry today and last sold 200t at RMB6,900/t (USD998/t) early last week". As the market still stays in the low position, the producer plans to cut their quotation to maintain sales and predicts that the mainstream prices of Chinese HC ferromanganese would decline slightly in the following days.
The producer, based on an annual production capacity of 60,000t of HC ferromanganese, intends to produce 4,000t in March, on par with the previous month. The producer has around 300t of inventory now.
Another producer in South China disclosed, "We hold a bearish attitude to the current market as we could not accept new orders and our regular clients cut their demand this month". The producer mentioned that they currently quote RMB6,700/t (USD969/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max without discount, unchanged from the end of last week. They received no inquiry today and last sold 300t at RMB6,700/t (USD969/t) mid last week. Although the current production costs stay at a high level, the producer still plans to cut their quotation if they could not receive new orders and believes that the mainstream prices of Chinese HC ferromanganese would move down this week due to the soft demand.
With the annual production capacity of 100,000t of HC ferromanganese, the producer prefers to produce nearly 3,000t in March, unchanged from last month. The producer holds no stock currently.
