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| Accident Happened At Mine In Hunan Province / China Causes To Rise Price Of Mn-Met |
| = In Western Part Of Hunan Province, Operation At Mine To Produce Manganese Carbonate Has Been Stopped |
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According to an information from China, an accident happened recently at mine to produce lead and zinc, located in western part of Hunan Province, and, being involved in this accident, the mine to produce manganese carbonate, located in the same area, has been ordered by the authorities concerned to stop the operation. Therefore, in anticipation of that the production of electrolytic manganese metal in China based on manganese carbonate as raw material will be influenced by this accident, price of Chinese electrolytic manganese metal has suddenly risen. The price of this metal offered from Chinese side has come to US$1,300 per ton CIF Japan. Before this accident happened, price of Chinese electrolytic manganese metal was in the range of US$1,230 - 1,250 CIF. Nippon Steel and JFE Steel in Japan and Posco in South Korea have been using electrolytic manganese metal with substantial quantities and held successively in the middle of June the tenders to purchase this metal for deliveries in July - September quarter. Consequently, these steel companies have finished their purchases for the quarter. The prices of electrolytic manganese metal bidden and awarded this time are so far not known but, by taking into consideration of the market situation at that time, would be on a lower level than US$1,230 per ton CIF. Depending on the situation of this production in Hunan Province, a possibility to influence on deliveries of electrolytic manganese metal from China is not negligible. However, this problem so far does not come up to the surface. Manganese carbonate has been also used as raw material for production of silico-manganese and, accordingly, it is marked whether this stoppage in production of manganese carbonate influences on production of silico-manganese or not. Hunan Province is the main base to produce electrolytic manganese metal in China and has shared 30% of the whole production in China. For a reference, China produced 569,900 tons of electrolytic manganese metal in 2005, including 297,000 tons exported from China in the year. |
| last modified : Wed 05 Jul, 2006 [11:17] |
