NEWS
IRON and STEEL   Materials  

China: Silico Manganese Producers Firm on Prices

In today's market of Silico Manganese, the expectation for upswing is still passionate. HBIS Group announced the purchase amount of Silico Manganese in June: 31,990MT, an increase of 2,500 MT compared with May 2019 and up 7,420 MT compared with 24,570 MT of June 2018.

To be specific, Xuanhua Steel tendered amount 8,000 (+1,400), Chengde steel 7,800 (+1,200), Tangshan steel 5,000 (+700), Shijiazhuang steel 360 (-), Handan Steel 4,000 (-500), Wuyang steel 2,500 (-500), Tangshan medium plate 4,000 (+500), and Tangshan Stainless Steel 330 (-300). Near the end of the month, the current industry focuses on a new round of steel mill tenders, and the overall wait-and-see atmosphere is relatively strong.

However, according to the sources, most alloy factories have had their orders lined up to mid-term of next month, and the tight supply coupled with the fact of increased tender volume as well as the expectation of demand release in the near future, have consolidated sellers’ willingness to back up prices. The latest statistics show that today's mainstream price of Silico Manganese graded 65-17 is still between RMB7,200-7,250/MT (USD1042.09-1049.33/MT), showing upward median level in offers, with less low costs resources. It seems that a stabilized Silico Manganese market is emerging.

The alloy index price shows that the price of Silico Manganese grade 65-17 run stable, and the price of it in provinces such as Henan, Hebei, Shandong, and Jiangsu is between RMB 7,415-7,631/MT (USD1073.21-1104.47/MT), cash, tax-inclusive and delivered.

Futures market:
Today's silicon-manganese futures contract 1909 has seen active transactions out of stimulating anticipation of mill tenders. Voluminous positions are built and transactions are significantly increased. Overall, positive outlook prevails. Attention needs to be paid to its sustainability.

Manganese ore market:
With the release of various mill tenders, the manganese ore market has also stabilized, without apparent fluctuation. Notwithstanding of positive mill tenders, the high level of stock at the port and inadequate demands from alloy factories have from pessimistic sentiments amongst some traders. The later development hinges on demand dynamics.

Future Outlook:
Put all the factors into consideration, most participants expressed that the possibility of an upswing in the new round of tender price stands high. Meanwhile, some conservative people think that a stable market is already hard-earned.

News No: 4709
Date: 2019/06/01 - 15:48
News Source: SteelMint

China  Silico Manganese  HBIS Group 

Comments:

Leave a Comment:

   
   
   
 

China resumes work on three key projects in Iran despite US sanctions

China has reengaged with Iran on three key projects despite US sanctions on the Islamic Republic, the Oil Price quoted a senior oil and gas industry source who works closely with the Iranian Oil Ministry.
 

OPEC sees downbeat oil outlook for rest of 2019

OPEC delivered a bearish oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply.
 

China- Baosteel Increase Steel Prices for September Deliveries

China’s major steelmaker - Baosteel has announced increase in its steel prices for September deliveries. The company has increased its steel prices by RMB 50-150/MT (USD 7-12/MT) in its Baoshan, Meishan and Dongshan base for Sep deliveries.
 

Global Billet Market Overview: Week 32, 2019

This week global billet market remained sluggish. The market is under pressure from trade war between China and the US.
 

Chinese Steel Market Highlights- Week 32, 2019

This week Chinese steel prices reported significant decline owing to volatile futures amid intensifying US-China trade tensions and pessimistic market sentiments both in domestic and overseas market.
 

Malaysia allows Lynas to continue operating rare earths plant for six months

Malaysia has granted Australia’s Lynas Corp (ASX: LYC) an extension on its operating licence for a rare earths processing plant, subject to various conditions and valid only for six months, keeping alive concerns about the miner’s fate in the Southeast Asian country.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners