Chinese HC ferromanganese prices edge down
2023-03-09 00:40:39 [Print]
BEIJING (Asian Metal) 9 Mar 23 - In view of the soft demand, the majority of HC ferromanganese suppliers in China decline their prices to promote sales. Currently, the mainstream prices of Chinese ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max stand at RMB7,650-7,850/t (USD1,098-1,127/t) EXW D/P, down by RMB100/t (USD14/t) from early this week. Considering the decreased production costs and the weak demand, insiders think that the prevailing prices of Chinese HC ferromanganese might move down further in the following days.
A producer in Guangxi noted that their current quotation for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max hovers at RMB7,900/t (USD1,134/t) EXW D/P and they could consider the price as low as RMB7,850/t (USD1,127/t), while they quote RMB7,950/t (USD1,141/t) with the counteroffer as much as RMB50/t (USD7/t) early this week. The producer refused a client who bid RMB7,750/t (USD1,112/t) for 200t today and last sold 500t at RMB7,900/t (USD1,134/t) early this week. The producer refuses to decrease their price further due to no inventory pressure but believes that the prevailing prices of Chinese HC ferromanganese would move down next week due to the sluggish demand.
The producer, with an annual production capacity of 80,000t of HC ferromanganese, plans to stop production in March due to the maintenance of furnaces, down by around 5,000t from last month. They have nearly 5,000t of inventory at present.
Another producer in North China disclosed, "We quote RMB7,700/t (USD1,105/t) EXW D/P for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max today and could consider concessions of no more than RMB50/t (USD7/t), while we quoted RMB7,800/t (USD1,120/t) with counteroffer as much as RMB100/t (USD14/t) on Monday. The producer received no inquiry today and last sold 500t at RMB7,700/t (USD1,105/t) early this week. The producer would like to decrease their prices further and believes that the prevailing prices of Chinese HC ferromanganese would go down further in the following days due to the weak demand.
With an annual production capacity of 180,000t of HC ferromanganese, the producer intends to produce nearly 13,000t in March, in line with the previous month. The producer has no stock at the moment.
A producer in Guangxi noted that their current quotation for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max hovers at RMB7,900/t (USD1,134/t) EXW D/P and they could consider the price as low as RMB7,850/t (USD1,127/t), while they quote RMB7,950/t (USD1,141/t) with the counteroffer as much as RMB50/t (USD7/t) early this week. The producer refused a client who bid RMB7,750/t (USD1,112/t) for 200t today and last sold 500t at RMB7,900/t (USD1,134/t) early this week. The producer refuses to decrease their price further due to no inventory pressure but believes that the prevailing prices of Chinese HC ferromanganese would move down next week due to the sluggish demand.
The producer, with an annual production capacity of 80,000t of HC ferromanganese, plans to stop production in March due to the maintenance of furnaces, down by around 5,000t from last month. They have nearly 5,000t of inventory at present.
Another producer in North China disclosed, "We quote RMB7,700/t (USD1,105/t) EXW D/P for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max today and could consider concessions of no more than RMB50/t (USD7/t), while we quoted RMB7,800/t (USD1,120/t) with counteroffer as much as RMB100/t (USD14/t) on Monday. The producer received no inquiry today and last sold 500t at RMB7,700/t (USD1,105/t) early this week. The producer would like to decrease their prices further and believes that the prevailing prices of Chinese HC ferromanganese would go down further in the following days due to the weak demand.
With an annual production capacity of 180,000t of HC ferromanganese, the producer intends to produce nearly 13,000t in March, in line with the previous month. The producer has no stock at the moment.
