In July 2023, the 1 # electrolytic manganese market will continue to decline. The Spot market price in East China will be 16100 yuan/ton at the beginning of the month and 15450 yuan/ton at the end of the month, with a monthly decline of 4.04%.
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 has been declining for six consecutive weeks since late May.
In terms of manganese ore, the manganese ore market in July was relatively strong. The market activity has increased, and due to the influence of external quotations, spot prices have fluctuated. Market prices fluctuate, and downstream manufacturers remain in a state of pressure. Some transactions are made at low prices in the market. The shipment quotation for South 32 to China in September 2023 is $4.6 per ton for Australian dollars (a decrease of 0.1), $4.25 per ton for Australian seeds (a decrease of 0.05), and $3.65 per ton for South African semi carbonates (a decrease of 0.05). Port of Tianjin South Africa 30.8-31 yuan/ton, Australia 38.5-39 yuan/ton, Gabon 37-37.5 yuan/ton; Qinzhou Port Macao Block is 39.3 yuan/ton, Gabon is 37.2 yuan/ton, and South Africa’s semi carbonated carbon is 29.8 yuan/ton.
In July 2023, the electrolytic manganese market as a whole went down, and in the first half of the month, the market remained temporarily stable. After the middle of the month, the market accelerated its decline. As of the 31st, the mainstream market price was between 13700 to 13800 yuan/ton, a decrease of 600 to 800 yuan/ton compared to the beginning of the month. In the first half of the month, the overall performance of the domestic market was relatively stable until there was no new news, and downstream procurement remained on demand, with slightly light trading volume. After the middle of the year, with the introduction of new steel bidding prices in China, steel bidding prices have significantly declined, and the domestic electrolytic manganese market is generally under pressure. After entering June, the electrolytic manganese market has been in a downward trend for six consecutive weeks, and the market atmosphere has continued to be sluggish. However, downstream demand is also generally biased towards off-season consumption, with a strong downward pressure on prices. The overseas market has also performed poorly, with a significant downward trend in steel bidding prices, once again dragging down the domestic market mentality. As of the 31st, the FOB price was between 1850 and 1900 US dollars per ton, a decrease of 130 US dollars per ton compared to the previous month. Overall, downstream demand is still weak, and it is expected to remain weak in the future, waiting for more guidance on steel bidding prices.
In July, the silicon manganese market first fell and then rose. At the beginning of the month, it was affected by steel bidding, and market activity increased. However, under the sluggish trend of futures, spot prices were not ideal, and demand was mostly based on on-demand procurement. In the last week, the rise in futures market prices drove the spot prices to temporarily stop falling and stabilize, and the market’s low sentiment slightly stabilized. According to the Commodity Market Analysis System of the Business Society, the market quotation for silicon manganese in Ningxia region (specification FeMN68Si18) was around 6500-6600 yuan/ton on July 31st, with an average market price of 6575 yuan/ton, an increase of 0.13% compared to the beginning of the month.
Steel recruitment situation:
The bidding price for electrolytic manganese from July to August 2023 in POSCO, South Korea: CFR Guangyang: 1839 US dollars/ton, a decrease of 141 US dollars/ton compared to the previous round. CFR Busan: $1839 per ton, a decrease of $161 per ton compared to the previous round, with a delivery date before August 20, 2023.
Baowu E Steel’s August 2023 metal manganese bidding: quantity 400 tons, registration deadline July 27, 2023, required delivery date before August 31, 2023.
Baosteel Corporation has launched a new round of electrolytic manganese bidding, with a bidding quantity of 1900 tons for Baoshan Base and 1400 tons for Zhanjiang Base. The quotation is as of July 31, 2023, and the delivery date is before August 31, 2023.
The electrolytic manganese bidding of Hesteel Group was launched in July, with the quantity of 700 tons, 100 tons more than that of last month, and the delivery date is before July 31, 2023.
Related data:
Customs data shows that the total export volume of unwrought manganese, manganese waste and powder (electrolytic manganese) in June 2023 was approximately 24847.275 tons, an increase of 15.74% month on month and a decrease of 19.20% year on year.
In June 2023, the total import volume of unwrought manganese, manganese waste and powder (electrolytic manganese) was approximately 1520.011 tons, a decrease of 39.2% compared to the previous month and a year-on-year increase of 51.99%.
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