Chinese HC ferromanganese prices decline
2023-03-21 08:33:40 [Print]
BEIJING (Asian Metal) 21 Mar 23 - Because of the increased inventory and the soft demand, most Chinese HC ferromanganese suppliers decrease their prices to promote sales. Currently, the present prevailing prices of Chinese ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max hover at RMB6,350-6,550/t (USD920-949/t) EXW D/P, decreased by RMB100/t (USD14/t) from late last week. Given the thin profit, insiders believe that the mainstream prices of Chinese HC ferromanganese would remain unchanged this week.
A producer in North China mentioned, "We currently quote RMB6,350/t (USD920/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max with concessions of no more than RMB50/t (USD7/t), while we offered RMB6,350/t (USD920/t) without counteroffer late last week". The producer received an inquiry of 300t at RMB6,200/t (USD898/t) today and they refused. They last sold 500t at RMB6,350/t (USD920/t) at the end of last week. Despite the high inventory level, the producer has no intention to decrease their quotation and believes that the mainstream prices of Chinese HC ferromanganese would stay unchanged in the coming days supported by the thin profit.
The producer, based on the annual production capacity of 180,000t of HC ferromanganese, plans to produce around 13,000t this month, unchanged from the previous month. They currently have no stock now.
A trader in South China stated that they currently quoted RMB6,500/t (USD942/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max and could consider the price as low as RMB6,400/t (USD927/t), while they quoted RMB6,500/t (USD942/t) with the concession as much as RMB50/t (USD7/t) at the end of last week. The trader noted, "We failed to receive a new order today and last sold 10t at RMB6,450/t (USD934/t) late last week". Considering the thin profit despite the sluggish demand, the trader plans to keep their price at the current level and predicts that the prevailing prices of Chinese HC ferromanganese would stay flat this week.
With the monthly sales volume of around 300t of HC ferromanganese, the trader estimates to sell around 200t this month, down by nearly 100t from last month. The trader holds around 50t of inventory at present.
A producer in North China mentioned, "We currently quote RMB6,350/t (USD920/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max with concessions of no more than RMB50/t (USD7/t), while we offered RMB6,350/t (USD920/t) without counteroffer late last week". The producer received an inquiry of 300t at RMB6,200/t (USD898/t) today and they refused. They last sold 500t at RMB6,350/t (USD920/t) at the end of last week. Despite the high inventory level, the producer has no intention to decrease their quotation and believes that the mainstream prices of Chinese HC ferromanganese would stay unchanged in the coming days supported by the thin profit.
The producer, based on the annual production capacity of 180,000t of HC ferromanganese, plans to produce around 13,000t this month, unchanged from the previous month. They currently have no stock now.
A trader in South China stated that they currently quoted RMB6,500/t (USD942/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max and could consider the price as low as RMB6,400/t (USD927/t), while they quoted RMB6,500/t (USD942/t) with the concession as much as RMB50/t (USD7/t) at the end of last week. The trader noted, "We failed to receive a new order today and last sold 10t at RMB6,450/t (USD934/t) late last week". Considering the thin profit despite the sluggish demand, the trader plans to keep their price at the current level and predicts that the prevailing prices of Chinese HC ferromanganese would stay flat this week.
With the monthly sales volume of around 300t of HC ferromanganese, the trader estimates to sell around 200t this month, down by nearly 100t from last month. The trader holds around 50t of inventory at present.
