Chinese silicomanganese prices remain stable
2023-04-28 08:31:27 [Print]
BEIJING (Asian Metal) 28 Apr 23 – In view of the quiet market, most suppliers in China prefer to wait for the major steel mills to release their purchase plans. Hence, the current mainstream prices of Chinese silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max stay at RMB6,950-7,150/t (USD1,003-1,032/t) EXW D/P, unchanged from mid this week. Due to the expectation of increased purchase volume, insiders hold views that the mainstream prices of Chinese silicomanganese would stay firm next week.
A producer in North China revealed, "Our quotation for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max remains unchanged from the middle of this week at RMB7,000/t (USD1,011/t) and we could consider the concession as much as RMB50/t (USD7/t) for regular clients". The producer refused a client who bid RMB6,900/t (USD996/t) for 100t today and they last sold 100t at RMB6,950/t (USD1,003/t) mid last week. Because of the sluggish demand and the decreased production costs, the producer might decrease their price to maintain sales and believes that the mainstream prices of Chinese silicomanganese would decline further next week.
With an annual production capacity of 450,000t of silicomanganese, the producer plans to produce 16,000t this month, down by around 4,000t from the previous month due to the soft demand. The producer currently has no stock.
A trader in South China mentioned that they presently offer RMB7,100/t (USD1,025/t) EXW D/P for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max today with discounts of no more than RMB100/t (USD14/t), on par with mid this week. The trader failed to receive new orders today and last sold 200t at RMB7,050/t (USD1,018/t) early last week. Given the expectation of increased purchase volume, the trader predicts that the mainstream prices of Chinese silicomanganese would stay firm in the coming days.
The trader, with the typical monthly trading volume of around 400t of silicomanganese, estimates to sell about 200t this month, unchanged from that in March. They currently have around 100t of inventory.
A producer in North China revealed, "Our quotation for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max remains unchanged from the middle of this week at RMB7,000/t (USD1,011/t) and we could consider the concession as much as RMB50/t (USD7/t) for regular clients". The producer refused a client who bid RMB6,900/t (USD996/t) for 100t today and they last sold 100t at RMB6,950/t (USD1,003/t) mid last week. Because of the sluggish demand and the decreased production costs, the producer might decrease their price to maintain sales and believes that the mainstream prices of Chinese silicomanganese would decline further next week.
With an annual production capacity of 450,000t of silicomanganese, the producer plans to produce 16,000t this month, down by around 4,000t from the previous month due to the soft demand. The producer currently has no stock.
A trader in South China mentioned that they presently offer RMB7,100/t (USD1,025/t) EXW D/P for silicomanganese Mn 65%min Si 17%min P 0.25%max S 0.04%max today with discounts of no more than RMB100/t (USD14/t), on par with mid this week. The trader failed to receive new orders today and last sold 200t at RMB7,050/t (USD1,018/t) early last week. Given the expectation of increased purchase volume, the trader predicts that the mainstream prices of Chinese silicomanganese would stay firm in the coming days.
The trader, with the typical monthly trading volume of around 400t of silicomanganese, estimates to sell about 200t this month, unchanged from that in March. They currently have around 100t of inventory.
