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|China Manganese Market (1) Manganese Metal|
|= Price rose early February only temporarily =|
Price of the manganese metal in China recovered early February after it had gradually dropped during January. The recovery was, however, not so powerful, i.e. price rose by RMB400 - 500/ton and only until mid-month, when the price got out of steam. At the month-end it started to slide through to early March by RMB200 - 300/ton and came back to the almost the same level as it had been before the New Year Holidays. |
Price changes in the market were: (Mn: 99.7%, from Hunan for domestic users, ex. warehouse basis with tax prepaid) <> RMB15,000 - 15,200/ton on January 30, <> RMB15,100 -15,300/ton on February 3, <> RMB15,400 - 15,600/ton on February 9, <> RMB15,400 - 15,600/ton on February 17, <> RMB15,300 - 15,500/ton on February 24, <> RMB15,300 - 15,500/ton on February 29, and <> RMB15,000 - 15,200/ton on March 5.
The temporary price rise of early February was partly because of the higher production of 200's stainless steel (Mn-alloyed) which caused spot buying by the mills of the metal under the comparatively higher LME nickel price at over US$20,000/ton. Stimulated by the price pick-up, manganese producers resumed operation at the idled capacities, and then supply and demand became balanced, so the price did.
However the price eventually started falling from the month-end because nickel price dropped and demand for the stainless steel products from both export and domestic sectors did not improve, making the SUS mills to curtail production including the 200's, while the resumed capacities continued to supply metal to the market. Without a big hope of revival in demand in the short run, producers are apparently probing for market interests by lowering their offer prices little by little.
|last modified : Tue 13 Mar, 2012 [11:50]|