Ferro Manganese Prices Analysis and Price Trend Outlook in 2024

2023 Ferromanganese Price Review

In 2023, Ferro manganese demand is weak in the Chinese market. The ferromanganese traders lack confidence, meanwhile, the end users reduce purchase volume.

 In the first half of 2023, China’s ferromanganese output was high, but weak consumption by downstream users caused ferromanganese prices to fall all the way to near the cost line. In the second half of 2023, manganese ore prices fell, ferromanganese production increased significantly, and market supply exceeded demand.

Medium Carbon Ferro Manganese Manufacturer in China

Current Price of Ferro Manganese

Poor demand has hit the weak sentiment in the industry, and the lack of positive factors is difficult to support the stability of the high manganese market. There are certain signs of profit concessions in the final transactions due to restrictions on factory shipments in various regions. At present, the mainstream transaction of high manganese 65# has fallen to a historical low of 5,400 yuan/ton since 2022. Many factories have said that if the price continues to drop, they will suspend production and reduce pressure; while 75# high manganese has not seen any significant adjustments yet, and orders have been confirmed. Most transactions were at 6,300-6,400 yuan/ton.

Factory-side shipments of medium and low manganese are relatively weak, but the cost-side quotations have basically continued at previous levels (75C2.0 is quoted at around 7,900 yuan/ton, and low manganese 0.7 is quoted at 9,300 yuan/ton). However, the market procurement atmosphere is light, and most people are psychologically concerned. The purchase price is low and the actual transaction situation lacks further improvement.

The Outlook of Ferro Manganese

As far as the ferromanganese market is concerned, the recovery of demand will still be a long-term problem. Issues such as destocking, maintaining stability, and promoting high-quality development of the industry will accompany the long-term operation of the market.

The overall supply of ferromanganese production capacity is still obvious, which suppresses the upward space of ferromanganese. The reshuffle of the medium and low manganese industry is approaching, and the pattern of supply and demand is weak in the south and strong in the north. According to the current mismatch of supply and demand, there is still no positive boost on the demand side, and it is affected by the return of competitive electrolytic manganese prices to low levels. The subsequent market situation such as lack of policies, Boosted by fundamental factors, low and medium manganese prices may maintain the current cost line.

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