Chinese silicomanganese producers hold their prices firm
2023-03-28 08:23:19 [Print]
BEIJING (Asian Metal) 28 Mar 23 - Given the thin profit despite the weak demand, the majority of silicomanganese suppliers in China intend to hold their prices unchanged. Therefore, the current mainstream prices of Chinese silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max hover at RMB7,150-7,350/t (USD1,039-1,068/t) EXW D/P, unchanged from the end of last week. Considering the increased inventory and the decreased prices of raw materials, insiders believe that the mainstream prices of Chinese silicomanganese would go down in the coming days.
A producer in North China mentioned, "We hold our quotation for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max unchanged from late last week at RMB7,150/t (USD1,039/t) EXW D/P and we could consider concessions of no more than RMB50/t (USD7/t) for regular clients". The producer received no inquiry today and last sold 500t at RMB7,550/t (USD1,097/t) delivered D/A with the freight of RMB200/t (USD28/t) at the beginning of this month. Based on the soft demand and the decreased prices of raw materials, the producer currently plans to firm price but believes that the mainstream prices of Chinese silicomanganese would decrease slightly in the following days.
Based on an annual production capacity of 150,000t of silicomanganese, the producer produced approximately 10,000t in March, down by nearly 2,000t from the previous month due to the thin profit. They hold around 15,000t of stocks at the moment.
A trader in North China mentioned, "We do not quote proactively for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max today but they could not accept the price lower than RMB7,150/t (USD1,039/t) EXW D/P, in line with late last week". The trader received no inquiry today and last sold 30t at RMB7,200/t (USD1,046/t) two weeks ago. Considering that the market shows weak demand, the trader intends to decrease their price further to maintain sales and believes that the mainstream prices of Chinese silicomanganese would decline in the coming days.
The trader, with the regular monthly trading volume of around 100t of silicomanganese, sold nearly 100t this month, unchanged from last month. The trader holds no inventory at present.
A producer in North China mentioned, "We hold our quotation for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max unchanged from late last week at RMB7,150/t (USD1,039/t) EXW D/P and we could consider concessions of no more than RMB50/t (USD7/t) for regular clients". The producer received no inquiry today and last sold 500t at RMB7,550/t (USD1,097/t) delivered D/A with the freight of RMB200/t (USD28/t) at the beginning of this month. Based on the soft demand and the decreased prices of raw materials, the producer currently plans to firm price but believes that the mainstream prices of Chinese silicomanganese would decrease slightly in the following days.
Based on an annual production capacity of 150,000t of silicomanganese, the producer produced approximately 10,000t in March, down by nearly 2,000t from the previous month due to the thin profit. They hold around 15,000t of stocks at the moment.
A trader in North China mentioned, "We do not quote proactively for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max today but they could not accept the price lower than RMB7,150/t (USD1,039/t) EXW D/P, in line with late last week". The trader received no inquiry today and last sold 30t at RMB7,200/t (USD1,046/t) two weeks ago. Considering that the market shows weak demand, the trader intends to decrease their price further to maintain sales and believes that the mainstream prices of Chinese silicomanganese would decline in the coming days.
The trader, with the regular monthly trading volume of around 100t of silicomanganese, sold nearly 100t this month, unchanged from last month. The trader holds no inventory at present.
