Chinese HC ferromanganese market remains slow
2023-03-28 08:23:11 [Print]
BEIJING (Asian Metal) 28 Mar 23 - As most downstream clients purchased inactively, the majority of HC ferromanganese suppliers in China have no intentions to move their quotations and hold watchful attitudes to the market. Currently, the prevailing prices of Chinese ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max stand at RMB6,300-6,500/t (USD916-945/t) EXW D/P, unchanged from late last week. Because of the weak demand and the decreased prices of raw materials, insiders believe that the mainstream prices of Chinese HC ferromanganese might decrease slightly in the upcoming days.
A trader in Guangxi mentioned that most of their clients cut their purchase volumes and they felt hard to close deals in March. The trader current quotes RMB6,300/t (USD916/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max without concession, in line with late last week. The trader received no inquiry today and last sold 10t at RMB6,300/t (USD916/t) early last week. Given the sluggish demand, the trader has the intention to decrease their price to maintain sales and believes that the prevailing prices of Chinese HC ferromanganese would edge down in the following days.
The trader, with the typical monthly trading volume of 150t of HC ferromanganese, sold around 80t this month, down by nearly 70t from the previous month due to the decreased demand. The trader holds no inventory at the moment.
Another trader in North China revealed, "We could only receive orders from our regular clients this month and most of our clients decrease their purchase volumes, and we closed no deal about a week". The trader currently quotes RMB6,400/t (USD930/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max and could consider the counteroffer as much as RMB100/t (USD14/t), on par with late last week. The trader received no order today and last sold 200t at RMB6,300/t (USD916/t) early last week. The trader plans to hold their prices unchanged currently but believes that the prevailing prices of Chinese HC ferromanganese would decrease in the coming days given the soft demand.
With the regular monthly sales volume of 5,000t of HC ferromanganese, the trader sold around 4,000t in March, down by nearly 1,000t from last month due to the slow market. They have about 4,000t of stocks now.
A trader in Guangxi mentioned that most of their clients cut their purchase volumes and they felt hard to close deals in March. The trader current quotes RMB6,300/t (USD916/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max without concession, in line with late last week. The trader received no inquiry today and last sold 10t at RMB6,300/t (USD916/t) early last week. Given the sluggish demand, the trader has the intention to decrease their price to maintain sales and believes that the prevailing prices of Chinese HC ferromanganese would edge down in the following days.
The trader, with the typical monthly trading volume of 150t of HC ferromanganese, sold around 80t this month, down by nearly 70t from the previous month due to the decreased demand. The trader holds no inventory at the moment.
Another trader in North China revealed, "We could only receive orders from our regular clients this month and most of our clients decrease their purchase volumes, and we closed no deal about a week". The trader currently quotes RMB6,400/t (USD930/t) EXW D/P for ferromanganese Mn 65%min C 7%max P 0.25%max S 0.03%max and could consider the counteroffer as much as RMB100/t (USD14/t), on par with late last week. The trader received no order today and last sold 200t at RMB6,300/t (USD916/t) early last week. The trader plans to hold their prices unchanged currently but believes that the prevailing prices of Chinese HC ferromanganese would decrease in the coming days given the soft demand.
With the regular monthly sales volume of 5,000t of HC ferromanganese, the trader sold around 4,000t in March, down by nearly 1,000t from last month due to the slow market. They have about 4,000t of stocks now.
