Chinese LC ferromanganese prices remain stable
2023-03-28 08:23:24 [Print]
BEIJING (Asian Metal) 28 March 23 - Although the market still stayed in the low position, most Chinese LC ferromanganese suppliers hold their prices unchanged supported by low inventory. Therefore, the present prevailing prices of Chinese ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max stand at RMB10,800-11,100/t (USD1,570-1,613/t) EXW D/P, unchanged from late last week. Given the stable market, insiders believe that the prevailing prices of Chinese LC ferromanganese would remain stable in the upcoming days.
A trader in South China noted, "We currently quote RMB11,200/t (USD1,628/t) delivered D/A with the freight of RMB200/t (USD28/t) for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max without concession, in line with late last week". The trader received no inquiry today and last sold 30t at RMB11,200/t (USD1,628/t) two weeks ago. As the market shows a stable demand, the trader intends to stick to their price and believes that the mainstream prices of LC ferromanganese in China would remain steady this week.
The trader, with the regular monthly trading volume of 150t of LC ferromanganese, sold approximately 100t in March, down by about 50t from the previous month due to the soft demand. The trader holds no inventory at the moment.
Another trader in South China disclosed that their current quotation for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max hovers at RMB10,900t (USD1,584/t) EXW D/P with the concession as much as RMB100/t (USD14/t), unchanged from late last week. The trader received an inquiry of 10t at RMB10,900/t (USD1,584/t) and they think they would close the deal tomorrow. They last sold 20t at RMB11,000/t (USD1,599/t) mid last week. Due to the stable demand, the trader plans to firm the price and predicts that the mainstream prices of Chinese LC ferromanganese would stay firm in the upcoming days.
Based on the regular monthly trading volume of around 100t of LC ferromanganese, the trader sold about 100t this month, unchanged from that in February. They hold about 30t of inventory now.
A trader in South China noted, "We currently quote RMB11,200/t (USD1,628/t) delivered D/A with the freight of RMB200/t (USD28/t) for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max without concession, in line with late last week". The trader received no inquiry today and last sold 30t at RMB11,200/t (USD1,628/t) two weeks ago. As the market shows a stable demand, the trader intends to stick to their price and believes that the mainstream prices of LC ferromanganese in China would remain steady this week.
The trader, with the regular monthly trading volume of 150t of LC ferromanganese, sold approximately 100t in March, down by about 50t from the previous month due to the soft demand. The trader holds no inventory at the moment.
Another trader in South China disclosed that their current quotation for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max hovers at RMB10,900t (USD1,584/t) EXW D/P with the concession as much as RMB100/t (USD14/t), unchanged from late last week. The trader received an inquiry of 10t at RMB10,900/t (USD1,584/t) and they think they would close the deal tomorrow. They last sold 20t at RMB11,000/t (USD1,599/t) mid last week. Due to the stable demand, the trader plans to firm the price and predicts that the mainstream prices of Chinese LC ferromanganese would stay firm in the upcoming days.
Based on the regular monthly trading volume of around 100t of LC ferromanganese, the trader sold about 100t this month, unchanged from that in February. They hold about 30t of inventory now.
