Chinese HC ferromanganese prices decline
2023-04-12 08:29:04 [Print]
BEIJING (Asian Metal) 12 Apr 23 - Given the decreased production costs and the soft demand, most HC ferromanganese suppliers in China decrease their prices. Thus, the current mainstream prices of Chinese ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max stand at RMB6,100-6,300/t (USD886-915/t) EXW D/P, decreased by RMB100/t (USD14/t) from late last week. Considering the decreased production costs, insiders foresee that the mainstream prices of Chinese HC ferromanganese would edge down this week.
A producer in North China mentioned that they presently quote RMB6,100/t (USD886/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max without concessions, while they quoted RMB6,200/t (USD900/t) with no discounts late last week. The producer received no inquiry today and last sold 30t at RMB6,300/t (USD915/t) delivered D/P early this week. Dragged by the decreased prices of raw materials and the weak demand, the producer intends to decline their price and believes that the mainstream prices of Chinese HC ferromanganese would edge down in the following days.
The producer, with an annual production capacity of 72,000t of HC ferromanganese, plans to stop production this month due to equipment maintenance. The producer produced 1,500t last month, holding around 1,000t of stocks now.
A trader in South China noted, "We quote RMB6,500/t (USD944/t) delivered D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max with the freight of around RMB200/t (USD28/t) and we could consider the price as low as RMB6,400/t (USD929/t) for firm bids". The trader quoted RMB6,600/t (USD958/t) with counteroffers of no more than RMB100/t (USD14/t) late last week. The trader received an inquiry of 30t at RMB6,400/t (USD929/t), but they think they could not close the deal as their cost is too high. They last sold 60t at RMB6,500/t (USD944/t) late last week. Owing to the decreased raw materials prices, the trader plans to firm their price currently but believes that the mainstream prices of Chinese HC ferromanganese would decrease this week.
Based on the typical monthly trading volume of nearly 500t of HC ferromanganese, the trader estimates to sell nearly 300t this month, on par with the previous month. They hold around 40t of stocks at the moment.
A producer in North China mentioned that they presently quote RMB6,100/t (USD886/t) EXW D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max without concessions, while they quoted RMB6,200/t (USD900/t) with no discounts late last week. The producer received no inquiry today and last sold 30t at RMB6,300/t (USD915/t) delivered D/P early this week. Dragged by the decreased prices of raw materials and the weak demand, the producer intends to decline their price and believes that the mainstream prices of Chinese HC ferromanganese would edge down in the following days.
The producer, with an annual production capacity of 72,000t of HC ferromanganese, plans to stop production this month due to equipment maintenance. The producer produced 1,500t last month, holding around 1,000t of stocks now.
A trader in South China noted, "We quote RMB6,500/t (USD944/t) delivered D/P for ferromanganese Mn 65%min C 5%max P 0.25%max S 0.03%max with the freight of around RMB200/t (USD28/t) and we could consider the price as low as RMB6,400/t (USD929/t) for firm bids". The trader quoted RMB6,600/t (USD958/t) with counteroffers of no more than RMB100/t (USD14/t) late last week. The trader received an inquiry of 30t at RMB6,400/t (USD929/t), but they think they could not close the deal as their cost is too high. They last sold 60t at RMB6,500/t (USD944/t) late last week. Owing to the decreased raw materials prices, the trader plans to firm their price currently but believes that the mainstream prices of Chinese HC ferromanganese would decrease this week.
Based on the typical monthly trading volume of nearly 500t of HC ferromanganese, the trader estimates to sell nearly 300t this month, on par with the previous month. They hold around 40t of stocks at the moment.
