Shengyan decreases MC ferromanganese production
2023-03-21 08:33:48 [Print]
BEIJING (Asian Metal) 21 Mar 23 – Ningxia Shengyan Group, one of the Chinese major MC ferromanganese Mn 75%min, C 2%max, P 0.2%max, S 0.03%max producers, intends to decline their production to 500t in March, a source from this company revealed to Asian Metal.
The source revealed, "Our company plans to decrease the production of MC ferromanganese Mn 75%min, C 2%max, P 0.2%max, S 0.03%max in March to 500t this month due to the soft demand and thin profit". The company would keep this output level for at least two months.
Based on the annual production capacity of 180,000t of MC ferromanganese, the producer would like to produce approximately 500t this month, decreased by nearly 2,500t from that in February. They hold about 1,500t of stocks at the moment.
Considering the increased inventory and the sluggish demand, most suppliers of MC ferromanganese in China decrease their prices to maintain sales. Currently, the prevailing prices for MC ferromanganese Mn 75%min, C 2%max, P 0.2%max, S 0.03%max stand at RMB8,950-9,1500/t (USD1,297-1,326/t) EXW D/P, down by RMB50/t (USD7/t) from late last week. Given the high production costs, insiders expect that the mainstream prices would remain steady in the coming days despite the weak demand.
The source revealed, "Our company plans to decrease the production of MC ferromanganese Mn 75%min, C 2%max, P 0.2%max, S 0.03%max in March to 500t this month due to the soft demand and thin profit". The company would keep this output level for at least two months.
Based on the annual production capacity of 180,000t of MC ferromanganese, the producer would like to produce approximately 500t this month, decreased by nearly 2,500t from that in February. They hold about 1,500t of stocks at the moment.
Considering the increased inventory and the sluggish demand, most suppliers of MC ferromanganese in China decrease their prices to maintain sales. Currently, the prevailing prices for MC ferromanganese Mn 75%min, C 2%max, P 0.2%max, S 0.03%max stand at RMB8,950-9,1500/t (USD1,297-1,326/t) EXW D/P, down by RMB50/t (USD7/t) from late last week. Given the high production costs, insiders expect that the mainstream prices would remain steady in the coming days despite the weak demand.
