Chinese MC ferromanganese market witnessed few deals
2023-03-30 08:28:09 [Print]
BEIJING (Asian Metal) 30 March 23 - As most downstream clients purchase inactively at present, most MC ferromanganese producers in China complain that they feel hard to close deals recently. Currently, the mainstream prices of ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max in China hovers at RMB8,900-9,100/t (USD1,291-1,320/t) EXW D/P, down by RMB50/t (USD7/t) from early this week. Given that the market shows a soft demand and the raw materials prices decrease, insiders believe that the prevailing prices of Chinese MC ferromanganese would edge down in the following days.
A producer in South China revealed, "We could not receive new orders these two weeks even though we decreased our prices, and most of our regular clients declined their purchase prices this month". The producer noted that they quote RMB8,900/t (USD1,291/t) EXW D/P for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max today and they could consider the concession as much as RMB50/t (USD7/t), while they offered RMB9,000/t (USD1,305/t) with no counteroffers early this week. They received no inquiry today and last sold 200t at RMB9,000/t (USD1,305/t) two weeks ago. Given the weak downstream demand, the producer plans to decrease their price further to get orders and believes that the prevailing prices of Chinese MC ferromanganese would move down in the coming days.
The producer, with the annual production capacity of 40,000t of MC ferromanganese, produced nearly 1,500t in March, unchanged from the previous month. They hold around 1,000t of inventory now.
A trader in North China disclosed, "We received no inquiry since mid last week, and most of our clients stop purchasing as they have enough inventories". The supplier noted that their quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max in China hovers at RMB9,000/t (USD1,305/t) EXW D/P at the moment with concessions of no more than RMB100/t (USD14/t). They offered RMB9,000/t (USD1,305/t) without discounts early this week. The trader received no inquiry today and last sold 20t at RMB9,000/t (USD1,305/t) early last week. Based on the sluggish demand, the trader intends to decline their prices and expects that the mainstream prices of Chinese MC ferromanganese would decrease in the upcoming week.
Based on the regular monthly sales volume of about 100t of MC ferromanganese, the trader sold around 50t this month, decreased by 50t from the previous month. They have nearly 20t of stocks at present.
A producer in South China revealed, "We could not receive new orders these two weeks even though we decreased our prices, and most of our regular clients declined their purchase prices this month". The producer noted that they quote RMB8,900/t (USD1,291/t) EXW D/P for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max today and they could consider the concession as much as RMB50/t (USD7/t), while they offered RMB9,000/t (USD1,305/t) with no counteroffers early this week. They received no inquiry today and last sold 200t at RMB9,000/t (USD1,305/t) two weeks ago. Given the weak downstream demand, the producer plans to decrease their price further to get orders and believes that the prevailing prices of Chinese MC ferromanganese would move down in the coming days.
The producer, with the annual production capacity of 40,000t of MC ferromanganese, produced nearly 1,500t in March, unchanged from the previous month. They hold around 1,000t of inventory now.
A trader in North China disclosed, "We received no inquiry since mid last week, and most of our clients stop purchasing as they have enough inventories". The supplier noted that their quotation for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max in China hovers at RMB9,000/t (USD1,305/t) EXW D/P at the moment with concessions of no more than RMB100/t (USD14/t). They offered RMB9,000/t (USD1,305/t) without discounts early this week. The trader received no inquiry today and last sold 20t at RMB9,000/t (USD1,305/t) early last week. Based on the sluggish demand, the trader intends to decline their prices and expects that the mainstream prices of Chinese MC ferromanganese would decrease in the upcoming week.
Based on the regular monthly sales volume of about 100t of MC ferromanganese, the trader sold around 50t this month, decreased by 50t from the previous month. They have nearly 20t of stocks at present.
