Chinese MC ferromanganese suppliers hold pessimistic attitudes
2023-03-14 08:34:51 [Print]
BEIJING (Asian Metal) 14 March 23 - As most end consumers delayed their purchase plans, most MC ferromanganese producers in China felt hard to receive new orders and start to decline their prices. Hence, the prevailing prices of ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max in China stay at RMB9,000-9,200/t (USD1,308-1,337/t) EXW D/P at the moment, decreased by RMB200/t (USD28/t) from late last week. Based on the high production costs despite the soft demand, insiders believe that the mainstream prices of Chinese MC ferromanganese would not change this week.
A producer in South China revealed, "Most of our regular clients decrease their purchase volumes this month and we received no inquiry today". The producer stated that their quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max stays at RMB9,000/t (USD1,308/t) EXW D/P without counteroffer today, while they quoted RMB9,200/t (USD1,337/t) without concession late last week. They last sold 100t at RMB9,200/t (USD1,337/t) mid last week. In view of high production costs despite the weak demand, the producer intends to hold their price unchanged and expects that the prevailing prices of Chinese MC ferromanganese would stay firm in the following days.
The producer, based on the annual production capacity of 40,000t of MC ferromanganese, plans to produce nearly 1,500t this month, down by about 1,500t from last month due to the weak demand. They currently have no stock.
A trader in North China complained that they only sold 30t so far this month and they could sell about 30t a week before March. The supplier mentioned that their current quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max in China stands at RMB9,300/t (USD1,352/t) EXW D/P and they could consider the price as low as RMB9,200/t (USD1,337/t) for regular clients, while they quoted RMB9,300/t (USD1,352/t) without concession late last week. They received no inquiry today and last sold 10t at RMB9,300/t (USD1,352/t) late last week. Due to the weak demand, the producer considers cutting their quotation further to attract clients and predicts that the mainstream prices of Chinese MC ferromanganese would move down in the coming days.
Based on the monthly trading volume of about 200t of MC ferromanganese, the trader estimates to sell about 100t this month, down by 100t from last month given the soft demand. The trader holds around 100t of inventory currently.
A producer in South China revealed, "Most of our regular clients decrease their purchase volumes this month and we received no inquiry today". The producer stated that their quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max stays at RMB9,000/t (USD1,308/t) EXW D/P without counteroffer today, while they quoted RMB9,200/t (USD1,337/t) without concession late last week. They last sold 100t at RMB9,200/t (USD1,337/t) mid last week. In view of high production costs despite the weak demand, the producer intends to hold their price unchanged and expects that the prevailing prices of Chinese MC ferromanganese would stay firm in the following days.
The producer, based on the annual production capacity of 40,000t of MC ferromanganese, plans to produce nearly 1,500t this month, down by about 1,500t from last month due to the weak demand. They currently have no stock.
A trader in North China complained that they only sold 30t so far this month and they could sell about 30t a week before March. The supplier mentioned that their current quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max in China stands at RMB9,300/t (USD1,352/t) EXW D/P and they could consider the price as low as RMB9,200/t (USD1,337/t) for regular clients, while they quoted RMB9,300/t (USD1,352/t) without concession late last week. They received no inquiry today and last sold 10t at RMB9,300/t (USD1,352/t) late last week. Due to the weak demand, the producer considers cutting their quotation further to attract clients and predicts that the mainstream prices of Chinese MC ferromanganese would move down in the coming days.
Based on the monthly trading volume of about 200t of MC ferromanganese, the trader estimates to sell about 100t this month, down by 100t from last month given the soft demand. The trader holds around 100t of inventory currently.
