Chinese silicomanganese prices move down
2023-04-11 08:11:15 [Print]
BEIJING (Asian Metal) 11 Apr 23 - Given the decreased prices of raw materials, the majority of Chinese producers decrease their prices. Currently, the mainstream prices for Chinese silicomanganese Mn 65%min, Si 17%max, P 0.25%max, S 0.08%max hovers at RMB7,000-7,200/t (USD1,017-1,046/t) EXW D/P, down by RMB100/t (USD14/t) from late last week. As the downstream clients purchase inactively and the raw materials prices decline continuously, insiders predict that the mainstream prices of silicomanganese in China would edge down in the following days.
A producer in North China revealed, "We presently quote RMB7,000/t (USD1,017/t) EXW D/P for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max with discounts of no more than RMB20/t (USD2.91/t) for firm bids, while we quote RMB7,050/t (USD1,025/t) and could accept the price as low as RMB7,000/t (USD1,017/t) late last week". The producer received an inquiry today and made the deal at RMB6,990/t (USD1,016/t) for 500t, they last sold 300t at RMB7,000/t (USD1,017/t) early last week. Owing to the shrinking demand and the decreased production costs, the producer intends to cut their price further to maintain sales and believes that the mainstream prices of Chinese silicomanganese would go down in the coming days.
The producer, with an annual production capacity of 450,000t of silicomanganese, would like to produce almost 16,000t in April, down by nearly 4,000t from the previous month due to the maintenance of equipment. They have no stock now.
Another producer in South China noted that their quotation for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max stays at RMB7,050/t (USD1,025/t) EXW D/P with no concessions, while they quoted RMB7,100/t (USD1,032/t) and could consider the concession as much as RMB50/t (USD7/t) late last week". The producer mentioned, "We received no inquiry today and only sold 800t after mid March". They last sold 800t at RMB7,050/t (USD1,025/t) late last week. Based on the soft demand and the decreased prices of manganese ore and coke, the producer might decrease their prices further and expects that the prevailing prices of Chinese silicomanganese would drop in the upcoming days.
Based on the production capacity of 58,000tpy of silicomanganese, the producer plans to produce around 2,500t in April, on par with last month, holding no inventory at present.
A producer in North China revealed, "We presently quote RMB7,000/t (USD1,017/t) EXW D/P for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max with discounts of no more than RMB20/t (USD2.91/t) for firm bids, while we quote RMB7,050/t (USD1,025/t) and could accept the price as low as RMB7,000/t (USD1,017/t) late last week". The producer received an inquiry today and made the deal at RMB6,990/t (USD1,016/t) for 500t, they last sold 300t at RMB7,000/t (USD1,017/t) early last week. Owing to the shrinking demand and the decreased production costs, the producer intends to cut their price further to maintain sales and believes that the mainstream prices of Chinese silicomanganese would go down in the coming days.
The producer, with an annual production capacity of 450,000t of silicomanganese, would like to produce almost 16,000t in April, down by nearly 4,000t from the previous month due to the maintenance of equipment. They have no stock now.
Another producer in South China noted that their quotation for silicomanganese Mn 65%min, Si 17%min, P 0.25%max, S 0.04%max stays at RMB7,050/t (USD1,025/t) EXW D/P with no concessions, while they quoted RMB7,100/t (USD1,032/t) and could consider the concession as much as RMB50/t (USD7/t) late last week". The producer mentioned, "We received no inquiry today and only sold 800t after mid March". They last sold 800t at RMB7,050/t (USD1,025/t) late last week. Based on the soft demand and the decreased prices of manganese ore and coke, the producer might decrease their prices further and expects that the prevailing prices of Chinese silicomanganese would drop in the upcoming days.
Based on the production capacity of 58,000tpy of silicomanganese, the producer plans to produce around 2,500t in April, on par with last month, holding no inventory at present.
