Chinese MC ferromanganese market runs slow
2023-04-23 22:27:53 [Print]
BEIJING (Asian Metal) 24 Apr 23 - As most downstream clients purchase only from hand to mouth, the market witnesses scarce deals recently. The present mainstream prices of ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max in China remain at RMB8,600-8,800/t (USD1,247-1,276/t) EXW D/P, unchanged from late last week. Considering the decreased production costs, insiders predict that the prevailing prices of Chinese MC ferromanganese would decline in the following week.
A producer in North China revealed, "We could not receive orders from traders in the past two weeks and we last sold 500t at RMB8,800/t (USD1,276/t) EXW D/P to a steel mill two weeks ago, and we could not receive any inquiries after that". The producer offers RMB8,800/t (USD1,276/t) EXW D/P for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max today with concessions of no more than RMB100/t (USD14/t), on par with the end of last week. Due to the soft demand and the decreased production costs, the producer believes that the mainstream prices of Chinese MC ferromanganese would edge down in the upcoming days.
The producer, with the annual production capacity of 180,000t of MC ferromanganese, plans to produce 300t this month, in line with the previous month. They presently have around 1,000t of stocks.
A trader in North China disclosed, "Our clients only purchase from hand to mouth now and the downstream demand volume decreased, therefore we have no intention to purchase from factories as well due to the high inventory". The supplier quotes RMB8,600/t (USD1,247/t) EXW D/P for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max without concessions at present, on par with late last week. The trader received no inquiry today and last sold 60t at RMB8,600/t (USD1,247/t) late last week. Because of the weak demand and the decreased prices of raw materials, the trader believes that the mainstream prices of Chinese MC ferromanganese would decline in the following week.
Based on the typical monthly trading volume of about 800t of MC ferromanganese, the trader thinks they could sell around 500t this month, unchanged from last month. The trader holds around 400t of inventory now.
A producer in North China revealed, "We could not receive orders from traders in the past two weeks and we last sold 500t at RMB8,800/t (USD1,276/t) EXW D/P to a steel mill two weeks ago, and we could not receive any inquiries after that". The producer offers RMB8,800/t (USD1,276/t) EXW D/P for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max today with concessions of no more than RMB100/t (USD14/t), on par with the end of last week. Due to the soft demand and the decreased production costs, the producer believes that the mainstream prices of Chinese MC ferromanganese would edge down in the upcoming days.
The producer, with the annual production capacity of 180,000t of MC ferromanganese, plans to produce 300t this month, in line with the previous month. They presently have around 1,000t of stocks.
A trader in North China disclosed, "Our clients only purchase from hand to mouth now and the downstream demand volume decreased, therefore we have no intention to purchase from factories as well due to the high inventory". The supplier quotes RMB8,600/t (USD1,247/t) EXW D/P for ferromanganese Mn 75%min C 2%max P 0.2%max S 0.03%max without concessions at present, on par with late last week. The trader received no inquiry today and last sold 60t at RMB8,600/t (USD1,247/t) late last week. Because of the weak demand and the decreased prices of raw materials, the trader believes that the mainstream prices of Chinese MC ferromanganese would decline in the following week.
Based on the typical monthly trading volume of about 800t of MC ferromanganese, the trader thinks they could sell around 500t this month, unchanged from last month. The trader holds around 400t of inventory now.
