Chinese HC ferromanganese prices go down
2023-04-12 08:29:07 [Print]
BEIJING (Asian Metal) 12 Apr 23 - Based on the decreased production costs and the sluggish demand, most Chinese HC ferromanganese suppliers decline their prices. Hence, the prevailing prices of Chinese ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max stand at RMB7,300-7,500/t (USD1,060-1,089/t) EXW D/P, decreased by RMB100/t (USD14/t) from the end of last week. Given that the raw materials prices decline continuously, insiders foresee that the mainstream prices of Chinese HC ferromanganese would decline in the upcoming days.
A producer in South China stated that they want to sell at RMB7,300/t (USD1,060/t) EXW D/P for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max and they could accept the counteroffer as much as RMB100/t (USD14/t) for firm bids. Their quotation hovered at RMB7,400/t (USD1,075/t) and they could accept the price as low as RMB7,300/t (USD1,060/t) late last week. The producer failed to receive an inquiry today and they last sold 30t at RMB7,300/t (USD1,060/t) mid last week. The producer considering decreasing their price further and predicts that the mainstream prices of Chinese HC ferromanganese would go down this week due to the decreased prices of raw materials.
The producer, with an annual production capacity of 80,000t of HC ferromanganese, intends to produce around 5,000t in April, while they stop production in March due to the maintenance of furnaces. The producer holds no inventory at the moment.
A trader in South China mentioned, "Our quotation for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max stands at RMB7,300/t (USD1,060/t) EXW D/P presently without concessions". They offered RMB7,350/t (USD1,067/t) with no counteroffers late last week. The trader closed no deal today and last sold 10t at RMB7,350/t (USD1,105/t) early last week. Considering the sluggish demand and the decreased raw materials prices, the trader intends to decrease their price and thinks that the mainstream prices of Chinese HC ferromanganese would edge down in the upcoming days.
Based on the typical monthly trading volume of 100t of HC ferromanganese, the trader estimates to sell approximately 60t in April, unchanged from that in March. The trader currently holds around 20t of stocks.
A producer in South China stated that they want to sell at RMB7,300/t (USD1,060/t) EXW D/P for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max and they could accept the counteroffer as much as RMB100/t (USD14/t) for firm bids. Their quotation hovered at RMB7,400/t (USD1,075/t) and they could accept the price as low as RMB7,300/t (USD1,060/t) late last week. The producer failed to receive an inquiry today and they last sold 30t at RMB7,300/t (USD1,060/t) mid last week. The producer considering decreasing their price further and predicts that the mainstream prices of Chinese HC ferromanganese would go down this week due to the decreased prices of raw materials.
The producer, with an annual production capacity of 80,000t of HC ferromanganese, intends to produce around 5,000t in April, while they stop production in March due to the maintenance of furnaces. The producer holds no inventory at the moment.
A trader in South China mentioned, "Our quotation for ferromanganese Mn 75%min C 8%max P 0.2%max S 0.03%max stands at RMB7,300/t (USD1,060/t) EXW D/P presently without concessions". They offered RMB7,350/t (USD1,067/t) with no counteroffers late last week. The trader closed no deal today and last sold 10t at RMB7,350/t (USD1,105/t) early last week. Considering the sluggish demand and the decreased raw materials prices, the trader intends to decrease their price and thinks that the mainstream prices of Chinese HC ferromanganese would edge down in the upcoming days.
Based on the typical monthly trading volume of 100t of HC ferromanganese, the trader estimates to sell approximately 60t in April, unchanged from that in March. The trader currently holds around 20t of stocks.
