Chinese LC ferromanganese prices moved down

BEIJING (Asian Metal) 18 Apr 23 - Because of the decreased purchase prices from the major steel mills, most Chinese LC ferromanganese producers decline their prices to maintain sales.Asian Metal Copyright They last sold 200t at RMB10,300t USD1,498t delivered with the freight of RMB170t USD24t last Friday.Asian Metal Copyright Currently, the prevailing prices of Chinese ferromanganese Mn 80%min C 0.Asian Metal Copyright With an annual production capacity of around 320,000t of LC ferromanganese, the producer would like to sell around 16,000t this month, unchanged from that in the previous month.Asian Metal Copyright7%max P 0.Asian Metal Copyright Given the thin profit, insiders believe that the mainstream prices of Chinese LC ferromanganese would stay flat this week.Asian Metal Copyright3%max S 0.02%max stay at RMB10,100-10,400/t (USD1,469-1,512/t) EXW D/P, down by RMB500/t (USD72/t) from late last week.Asian Metal Copyright Given the increased inquiries and the low profit, the producer prefers to firm the price and believes that the mainstream prices of Chinese LC ferromanganese would not change in the upcoming days.Asian Metal Copyright Given the thin profit, insiders believe that the mainstream prices of Chinese LC ferromanganese would stay flat this week.

A producer in South China noted that their quotation for ferromanganese Mn 80%min C 0.7%max P 0.Asian Metal Copyright A producer in South China noted that their quotation for ferromanganese Mn 80%min C 0.Asian Metal Copyright3%max S 0.02%max stays at RMB10,100/t (USD1,621/t) EXW D/P and they would not accept the lower prices. The producer still offered 10,400/t (USD1,512/t) last Thursday, but they declined their price following the major steel mills' purchase prices on Friday. The producer refused a client who wants to purchase 100t at RMB10,000/t (USD1,454/t) as they hold no profit now and only would like to sell to regular clients. They last sold 200t at RMB10,300/t (USD1,498/t) delivered with the freight of RMB170/t (USD24/t) last Friday.Asian Metal Copyright02%max stay at RMB10,100-10,400t USD1,469-1,512t EXW DP, down by RMB500t USD72t from late last week.Asian Metal Copyright Based on the thin profit, the producer has the intention to firm their price and predicts that the mainstream prices of LC ferromanganese in China would stay unchanged this week.

Based on an annual production capacity of 36,000t of LC ferromanganese, the producer intends to produce 1,500t in April, in line with the previous month. The producer has no stock now.

Another producer in North China disclosed, "We currently quote RMB10,000/t (USD1,454/t) without concessions for ferromanganese Mn 80%min C 0.7%max P 0.Asian Metal Copyright Given the increased inquiries and the low profit, the producer prefers to firm the price and believes that the mainstream prices of Chinese LC ferromanganese would not change in the upcoming days.Asian Metal Copyright3%max S 0.02%max, while we quoted RMB10,300/t (USD1,498/t) EXW D/P without counteroffers before the major steel mills released purchase prices late last week". The producer received an inquiry of 300t at RMB10,000/t (USD1,454/t) today, but they refused the client as they have no profit and only sell to regular clients.Asian Metal Copyright3%max S 0.Asian Metal Copyright Given the increased inquiries and the low profit, the producer prefers to firm the price and believes that the mainstream prices of Chinese LC ferromanganese would not change in the upcoming days.

With an annual production capacity of around 320,000t of LC ferromanganese, the producer would like to sell around 16,000t this month, unchanged from that in the previous month. The producer holds no inventory at present.
.Asian Metal Copyright The producer still offered 10,400t USD1,512t last Thursday, but they declined their price following the major steel mills' purchase prices on FridayAsian Metal Copyright