Chinese MC ferromanganese prices edge down
2023-03-21 08:33:35 [Print]
BEIJING (Asian Metal) 21 Mar 23 - Due to the weak demand, most MC ferromanganese producers in China decrease their prices to promote sales. Therefore, the current mainstream prices of Chinese ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max stand at RMB8,950-9,150/t (USD1,297-1,326/t) EXW D/P, decreased by RMB50/t (USD7/t) from late last week. Given the high production costs despite the limited demand, insiders believe that the mainstream prices of Chinese MC ferromanganese would remain unchanged in the coming days.
A producer in South China mentioned that their quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max stays at RMB9,200/t (USD1,333/t) EXW D/P at the moment and they could the price as low as RMB9,000/t (USD1,304/t), while they offered RMB9,200/t (USD1,333/t) with no discount at the end of last week. The producer received no new order today and last sold 50t at RMB9,050/t (USD1,311/t) at the end of last week. Given the thin profit despite the soft demand, the producer plans to hold their price unchanged and thinks that the prevailing prices of Chinese MC ferromanganese would stay flat in the following days.
The producer, with an annual production capacity of 180,000t of MC ferromanganese, would like to produce about 500t this month, decreased by nearly 2,500t from the previous month due to the soft demand. They have approximately 1,500t of stocks at present.
Another producer in North China revealed, "We currently quote RMB9,000/t (USD1,304/t) EXW D/P without concession for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max, while we quoted RMB9,100/t (USD1,318/t) with no discount at the end of last week". The producer stated that they received no inquiry today and last sold 500t at RMB9,100/t (USD1,318/t) early last week. Although the market stays in a low position, the producer intends to firm their price and believes that the mainstream prices of Chinese MC ferromanganese would remain steady this week supported by the high production costs.
Based on the annual production capacity of 30,000t of MC ferromanganese, the producer intends to produce about 3,000t in March, unchanged from last month. The producer has no stock at the moment.
A producer in South China mentioned that their quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max stays at RMB9,200/t (USD1,333/t) EXW D/P at the moment and they could the price as low as RMB9,000/t (USD1,304/t), while they offered RMB9,200/t (USD1,333/t) with no discount at the end of last week. The producer received no new order today and last sold 50t at RMB9,050/t (USD1,311/t) at the end of last week. Given the thin profit despite the soft demand, the producer plans to hold their price unchanged and thinks that the prevailing prices of Chinese MC ferromanganese would stay flat in the following days.
The producer, with an annual production capacity of 180,000t of MC ferromanganese, would like to produce about 500t this month, decreased by nearly 2,500t from the previous month due to the soft demand. They have approximately 1,500t of stocks at present.
Another producer in North China revealed, "We currently quote RMB9,000/t (USD1,304/t) EXW D/P without concession for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max, while we quoted RMB9,100/t (USD1,318/t) with no discount at the end of last week". The producer stated that they received no inquiry today and last sold 500t at RMB9,100/t (USD1,318/t) early last week. Although the market stays in a low position, the producer intends to firm their price and believes that the mainstream prices of Chinese MC ferromanganese would remain steady this week supported by the high production costs.
Based on the annual production capacity of 30,000t of MC ferromanganese, the producer intends to produce about 3,000t in March, unchanged from last month. The producer has no stock at the moment.
