Chinese LC ferromanganese prices stay unchanged
2023-04-27 08:33:43 [Print]
BEIJING (Asian Metal) 27 Apr 23 - Because of the low inventory, most suppliers in China would like to maintain their current prices. Therefore, the current mainstream prices of Chinese ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max stay at RMB10,100-10,400/t (USD1,459-1,502/t) EXW D/P, on par with early this week. Due to the decreased production costs, insiders believe that the mainstream prices of Chinese LC ferromanganese would edge down in the following days.
A trader in North China offers RMB10,300/t (USD1,488/t) EXW D/P for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max today, and they could consider the concession as much as RMB100/t (USD14/t), unchanged from early this week. The trader failed to get orders from their clients today and they last sold 100t at RMB10,200/t (USD1,473/t) in mid April. Given the decreased prices of manganese ore and coke, the trader predicts that the prevailing prices of Chinese LC ferromanganese would move down in the coming week.
With the typical monthly trading volume of 200t of LC ferromanganese, the trader estimates to sell about 200t this month, in line with that in March. The trader presently has no stock.
A trader in South China mentioned, "We quote RMB10,100/t (USD1,459/t) EXW D/P for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max and we could consider the price as low as RMB10,000/t (USD1,444/t), unchanged from the beginning of this week. The trader received an inquiry of 50t at RMB10,000/t (USD1,444/t) today and they think they could close the deal before the end of this week. They last sold 100t at RMB10,000/t (USD1,444/t) late last week. Due to the decreased production costs, the trader believes that the mainstream prices of Chinese LC ferromanganese would move down in the upcoming days.
Based on the typical monthly sales volume of about 300t of LC ferromanganese, the trader estimates to sell nearly 250t this month, increased by 100t from the previous month. The trader has around 150t of inventory at present.
A trader in North China offers RMB10,300/t (USD1,488/t) EXW D/P for ferromanganese Mn 80%min C 0.7%max P 0.3%max S 0.02%max today, and they could consider the concession as much as RMB100/t (USD14/t), unchanged from early this week. The trader failed to get orders from their clients today and they last sold 100t at RMB10,200/t (USD1,473/t) in mid April. Given the decreased prices of manganese ore and coke, the trader predicts that the prevailing prices of Chinese LC ferromanganese would move down in the coming week.
With the typical monthly trading volume of 200t of LC ferromanganese, the trader estimates to sell about 200t this month, in line with that in March. The trader presently has no stock.
A trader in South China mentioned, "We quote RMB10,100/t (USD1,459/t) EXW D/P for ferromanganese Mn 80%min C 0.4%max P 0.3%max S 0.02%max and we could consider the price as low as RMB10,000/t (USD1,444/t), unchanged from the beginning of this week. The trader received an inquiry of 50t at RMB10,000/t (USD1,444/t) today and they think they could close the deal before the end of this week. They last sold 100t at RMB10,000/t (USD1,444/t) late last week. Due to the decreased production costs, the trader believes that the mainstream prices of Chinese LC ferromanganese would move down in the upcoming days.
Based on the typical monthly sales volume of about 300t of LC ferromanganese, the trader estimates to sell nearly 250t this month, increased by 100t from the previous month. The trader has around 150t of inventory at present.
