Chinese LC ferromanganese prices firm
2023-03-24 08:31:29 [Print]
BEIJING (Asian Metal) 24 March 23 - Given the stable demand, most LC ferromanganese producers in China intend to firm their prices. Currently, the mainstream prices of Chinese ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max hover at RMB10,800-11,100/t (USD1,582-1,626/t) EXW D/P, unchanged from early this week. Given no inventory pressure despite the soft demand, insiders believe that the mainstream prices of Chinese LC ferromanganese would stay firm in the following days.
A producer in North China mentioned that they currently offer RMB10,800/t (USD1,582/t) EXW D/P for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max without discount, unchanged from the beginning of this week. The producer received an inquiry of 100t at RMB10,800/t (USD1,582/t) today and they think they would close the deal before next week. They last sold 200t at RMB10,800/t (USD1,582/t) early this week. Given the low inventory, the producer wants to firm their price and believes that the prevailing prices of Chinese LC ferromanganese would stay flat next week.
Based on an annual production capacity of 320,000t of LC ferromanganese, the producer plans to produce about 16,000t this month, on par with the previous month. They have no stock at the moment.
A trader in North China stated that their quotation for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max stands at RMB11,000/t (USD1,611/t) EXW D/P with the concession as much as RMB100/t (USD100/t), in line with early this week. The producer noted, "We received no inquiry so far this week and we last sold 50t at RMB11,000/t (USD1,611/t) early last week". In view of the unchanged demand, the trader intends to hold their price and expects that the prevailing prices of Chinese LC ferromanganese would remain steady in the coming week.
The trader, with the typical monthly sales volume of nearly 150t of LC ferromanganese, estimates to sell about 80t this month, down by around 70t from the previous month. They hold no inventory at present.
A producer in North China mentioned that they currently offer RMB10,800/t (USD1,582/t) EXW D/P for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max without discount, unchanged from the beginning of this week. The producer received an inquiry of 100t at RMB10,800/t (USD1,582/t) today and they think they would close the deal before next week. They last sold 200t at RMB10,800/t (USD1,582/t) early this week. Given the low inventory, the producer wants to firm their price and believes that the prevailing prices of Chinese LC ferromanganese would stay flat next week.
Based on an annual production capacity of 320,000t of LC ferromanganese, the producer plans to produce about 16,000t this month, on par with the previous month. They have no stock at the moment.
A trader in North China stated that their quotation for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max stands at RMB11,000/t (USD1,611/t) EXW D/P with the concession as much as RMB100/t (USD100/t), in line with early this week. The producer noted, "We received no inquiry so far this week and we last sold 50t at RMB11,000/t (USD1,611/t) early last week". In view of the unchanged demand, the trader intends to hold their price and expects that the prevailing prices of Chinese LC ferromanganese would remain steady in the coming week.
The trader, with the typical monthly sales volume of nearly 150t of LC ferromanganese, estimates to sell about 80t this month, down by around 70t from the previous month. They hold no inventory at present.
