In June 2023, the 1 # electrolytic manganese market will continue to decline. The Spot market price in East China will be 16350 yuan/ton at the beginning of the month and 16100 yuan/ton at the end of the month, down 1.53% month on month.
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The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the weekly and monthly electrolytic manganese K-bar chart above, it can be seen that the electrolytic manganese market has been declining for five consecutive months since December 22. From the weekly bar chart, we can see that the electrolytic manganese market continued to decline in late May.
In terms of manganese ore: The manganese ore market remained weak in June. The supply and demand game is deadlocked, and the market mentality is inconsistent. Some miners are facing losses and their quotations are firm, while others are affected by the pressure of silicon and manganese manufacturers and the reduction of external quotations, resulting in loose transaction prices. As of June 28, the semi carbonate in Port of Tianjin was 31.3-31.5 yuan/ton, Australia was about 39.8 yuan/ton and Gabon was about 37.5-38 yuan/ton, which remained weak; The manganese mine in Qinzhou Port operates weakly and stably, with a relatively small price fluctuation range. The transaction price of semi carbonated acid is around 30.5 yuan/ton, while the price of Australian block is 39.5-40 yuan/ton, the price of high-quality Australian seeds is 37-37.5 yuan/ton, and the price of Gabon is around 37.5 yuan/ton.
In June 2023, the electrolytic manganese market overall declined. In early June, market news announced that a large domestic factory would resume work in the near future, and the market expected a loose supply in the future, leading to a wave of downward trend. In the middle of the month, market inventory data showed that the overall domestic electrolytic manganese inventory is running at a high level. Under the influence of loose supply, the electrolytic manganese market has been declining for four consecutive weeks this month. Although the weekly decline is only around 100 yuan/ton, it has a significant impact on market sentiment. Currently, the overall bearish atmosphere in the market is relatively strong. There has been no significant improvement in demand, and overall demand is weak. Downstream procurement intentions are still low, overall inventory is running at a high level, and the game mentality between supply and demand is strong, resulting in a strong wait-and-see atmosphere in the market. FOB prices have been declining for three consecutive weeks within the month, reaching $1980 to $2030 per ton on the 29th, a decrease of approximately $180 per ton compared to the same period last month. Overall, the business community expects that downstream demand will remain weak overall, and there will be little improvement in the short term. It is expected that the future market will be mainly stable, moderate, and weak, while waiting for more guidance on steel bidding prices.
In June, the silicon manganese Spot market was dominated by weak operation under the situation of low price of silicon manganese steel bidding inquiry, insufficient cost support and obvious characteristics of terminal demand off-season. According to the Commodity Market Analysis System of the Business Society, the market price of silicon manganese in Ningxia region (specification FeMN68Si18) was around 6450-6650 yuan/ton on June 29th, with an average market price of 6566 yuan/ton, a decrease of 2.35% compared to the beginning of the month.
Steel recruitment situation:
The acceptance price for Baosteel’s electrolytic manganese bidding, including taxes, is 14700 yuan/ton, which is the same as the bidding price on June 15. The quantity is 1200 tons, and the delivery date is before July 25, 2023.
Baosteel’s new round of electrolytic manganese bidding: Baoshan Base has 1200 tons of electrolytic manganese sheets, while Wuhan Iron and Steel has 160 tons of electrolytic manganese sheets. The quotation deadline is June 30, 2023, and the delivery date is July 25, 2023.
Fushun Special Steel Electrolytic Metal Manganese Bidding: Quantity 96 tons, quotation as of June 28, 2023, delivery date July 31, 2023.
Shougang Corporation’s July 2023 electrolytic manganese sheet bidding: quantity 2400 tons, quotation as of June 28, 2023, delivery date July 31, 2023.
Related data:
According to customs data, the total export volume of unwrought manganese, manganese waste and powder (electrolytic manganese) in April 2023 was approximately 20600.3 tons, a decrease of 38.42% compared to the previous month; In April 2023, the total import volume of unwrought manganese, manganese waste and powder (electrolytic manganese) was approximately 4700.006 tons, a decrease of 14.55% compared to the previous month.
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