This week (March 17th to March 24th), the market price of 1 # electrolytic manganese was reduced in a narrow range, resulting in a weak market atmosphere. The spot market price in East China was 16500 yuan/ton last weekend, down 0.3% from 16450 yuan/ton this weekend.

In terms of manganese ore: This week, the manganese ore market continued to operate weakly, with manufacturers’ strong intention to hold down prices and focus on a small amount of replenishment, leading to a relatively sluggish market trading atmosphere. Recently, resource costs in Gabon have been low when arriving at Hong Kong. At the same time, after the decline in spot prices, traders’ financial pressure has increased, and their willingness to cash out has gradually increased, with a relatively clear trend of low price shipping. Tianjin Port Macao Block: 45 yuan/ton, Gabon: 41.2 yuan/ton, South Africa semi carbonated carbon: 33.1 yuan/ton. Qinzhou Port – Macao Block: 45 yuan/ton, Gabon: 41.3 yuan/ton, South Africa: 34.3 yuan/ton.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price changes in the form of a histogram. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates: rising; Green indicates a decline; The height of the K column indicates the range of fluctuation. As can be seen from the weekly and monthly electrolytic manganese K-bar charts above, since March 2022, electrolytic manganese has continued to decline, and after a slight increase in prices at the end of August, it has continued to stabilize temporarily. After a slight recovery in prices at the end of September, prices have remained stable for a long time since October, fluctuated slightly in November, decreased slightly after December, and continued to decline slightly after a temporary stabilization in January.

The price of European strategic small metal manganese has temporarily stabilized this week, reaching 2450 US dollars per ton as of March 24th, with a decrease of 100 US dollars per ton during the cycle. Recently, the market negotiation atmosphere is limited and there is strong wait-and-see sentiment.

This week, the domestic electrolytic manganese market continued to operate weakly, with the mainstream price in the domestic market ranging from 15000 to 15200 yuan/ton. The mainstream domestic factory price is 14900-15000 yuan/ton, a slight decrease of 100 yuan/ton compared to last week. The market still maintains on-demand procurement, with overall trading slightly cold. This round of steel bidding basically went down, dragging down the market mentality and causing a slight decline in market prices. From a comprehensive perspective, downstream purchasing intentions have always been low, and market trading and investment are not active, and demand is still weak. Under the situation of weak supply and demand, the overall market is weak, and it is difficult to achieve significant improvement in the short term. It is expected that the electrolytic manganese market will remain weak in the future.

This week, the silicon and manganese market has been operating weakly and steadily, with both north and south profits at low levels, significant fluctuations in raw material prices, and a gradually widening cost gap among various companies. Prices in the north have eased slightly, with a month-on-month decrease of around 50 yuan/ton compared to last week. The south is relatively strong. The futures market is operating in a narrow range of volatility, with its trading trend initially subdued and then rising. According to the price monitoring conducted by the Business Agency, the market price of silicon manganese in Ningxia (specification: FeMN68Si18) was around 7000-7150 yuan/ton on March 24th, with an average market price of 7116 yuan/ton, a decrease of 0.23%.

Related data:

According to customs data, the total export volume of unwrought manganese, manganese scrap, and powder (electrolytic manganese) in January 2023 was approximately 32683.5 tons, up 31.1% from December. In January 2023, the total import volume of unwrought manganese, manganese scrap and powder (electrolytic manganese) was about 2200.5 tons, down about 56.02% from December.