Weak and Stable Operation of Electrolytic Manganese Market Currently, Market Supply is Tight
2023/8/29
In terms of the market, the electrolytic manganese market has shown a stable consolidation trend, and the overall upward trend of the market has gradually slowed down. The industry still maintains a cautious wait-and-see attitude towards the market's future trend, and looks forward to the performance guidance of this week's steel recruitment.
In terms of steel bidding, at the end of the month, a large-scale steel bidding wind vane was introduced. Baosteel's September bidding included 5900 tons of electrolytic manganese, including 3500 tons for Baoshan Base, 2400 tons for Dongshan Base, 1100 tons for spherical electrolytic manganese (Baoshan Base), and 800 tons for low-carbon metal manganese balls (Wuhan Iron and Steel). The registration deadline is 10:00 on August 29, 2023, and the quotation deadline is 12:00 on August 29, 2023. The required delivery time is October 5, 2023. Ba Steel's September bidding: 120 tons of metal manganese, 600 tons of low-carbon manganese iron, and 100 tons of sintered manganese balls. The registration deadline is 14:00 on August 30, 2023, and the quotation deadline is 14:00 on August 31, 2023. The required delivery time is October 10, 2023.
In terms of 200 series stainless steel, the spot price in the market is weak and stable. With traders actively shipping, the bargaining space for actual orders has increased. However, downstream companies are cautious about the future market situation, and procurement in the market is slowing down. It is expected that the spot price will be weak and stable in the future. On the 201LH/2B, Foshan Steel Plant quoted a market price of 9000 (including tax base price upon arrival), which remained stable on August 22 compared to the previous month; In the case of low willingness to sell, there is only a slight fluctuation in actual single trading. In the second half of the week, due to the lack of active downstream inquiries, coupled with the weakening of the spot market, in order to alleviate the shipping pressure, the spot resource quotation is weak and stable, allowing for greater bargaining space; Due to factors such as rising steel mill prices and limited spot resources in the Wuxi market, spot prices increased at the beginning of the week, while futures showed a weak downward trend in the middle of the week. Market trading was relatively quiet, but raw material prices rose, resulting in overall stability in prices.
Overall, the electrolytic manganese market is operating in a weak and stable manner. Currently, there is a shortage of goods in the market, prices are stable, and the demand side bidding quantity has increased. We are looking forward to the performance guidance of steel bidding by large factories.
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