This week, the bidding price of electrolytic manganese steel was at the level of 12,950-13,000 yuan/ton, and the bidding price of some low manganese steel also rebounded to the range of 10,450-10,570 yuan/ton (acceptance tax-inclusive to the factory). The basic market of electrolytic manganese was supported, and the quotations of most factories remained strong (12,500 yuan/ton).
However, due to the uncertainty of the post-holiday market and the financial pressure of individual factories, the transaction of electrolytic manganese was more prominent this week (12,300 yuan/ton), and traders tended to be cautious in preparing stocks for traditional holidays. In addition, this week, except for the continued strong quotations of large factories for low manganese 0.7 (10,300-10,500 yuan/ton), the transaction price of a small number of small factories has been adjusted back to 9,900 yuan/ton.
The market trend this week is as follows
At the beginning of the week, the electrolytic manganese market maintained a strong sentiment, but the transaction heat on the spot side was slightly lower. Very few factories and holders were limited in transaction and still offered a profit of 12,350-12,400 yuan/ton. Baosteel’s new round of electrolytic manganese and manganese balls procurement totaled 10,000 tons, and the relevant low-manganese market remained stable and strong, with a slightly tight spot situation.
Many steel mills have not yet carried out holiday reserve actions, and the release of electrolytic manganese demand at the end of the month is still expected to be positive. In terms of spot prices, they are slightly weak and stable due to the flat transaction in the trade market. The transaction price between Guangxi and some traders is still around 12,300 yuan/ton.
Some factories quoting 12,500 yuan/ton reported that it is difficult to reach a deal at this price. In addition, the industry reported that large factories in the south have stated that they will not accept bulk orders for the time being and some long-term contracts have temporarily suspended shipments.
In the later stage of the electrolytic manganese market, traders tend to be cautious in their intention to enter the market with real orders, and due to their own uncertainty about the post-holiday market, traditional holiday reserve actions have been significantly reduced. Due to the influence of capital pressure, the transaction price of individual factories and traders in Guangxi remains at 12,300 yuan/ton, and most factories quote 12,500 yuan/ton, which is slightly limited.
With the arrival of the overseas Christmas holiday, the heat of export inquiries has decreased, and the influence of recent exchange rate fluctuations has caused the mainstream electrolytic manganese export FOB quotation to drop to around US$1,720/ton.
Export market: With the arrival of the overseas Christmas holiday, the heat of export inquiries has decreased, and the influence of recent exchange rate fluctuations has caused the mainstream electrolytic manganese export FOB quotation to drop to around US$1,720/ton.