According to the Commodity Market Analysis System of Business Society, the 1 # electrolytic manganese market was operating weakly this week (March 11th to March 18th), with prices in the East China region dropping by 1.08% to 13700 yuan/ton on March 18th.
In terms of manganese ore, the overall performance of manganese ore this week was weak, with prices showing a downward trend. Downstream purchasing willingness was average, but prices remained low, resulting in inconsistent performance at the port. This week, it was mainly affected by downstream production cuts, spot and market prices, with different types of ore experiencing a decline of 0.2-0.3 yuan/ton. Port profiteers still have a high willingness to ship. As of March 15th, Tianjin Port’s semi carbonated carbon is priced between 33.5-34 yuan/ton, Gabon’s is priced between 35-35.5 yuan/ton, and Australia’s block is priced below 36 yuan/ton. Although there is a strong willingness to ship, the overall transaction volume is relatively low. The mainstream price of southern manganese ore remains stable, and downstream purchases are mainly based on demand. Semi carbonated carbon is priced between 33.5-34 yuan/ton, Australia’s block is priced between 36-36.5 yuan/ton, and Gabon’s block is priced between 35-35.5 yuan/ton.
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K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell 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 charts above, it can be seen that the recent trend of the electrolytic manganese market is relatively weak.
This week, the electrolytic manganese market continued its previous trend and continued to operate weakly. The mainstream market prices this week were concentrated at 12100-12200 yuan/ton, a further decrease of 100 yuan/ton compared to last week. After the holiday, the demand for electrolytic manganese in the market has been weak, and the spot market has maintained a weak operating trend. After January, with the resumption of work by enterprises, the operating rate has basically returned to pre holiday levels, and market supply has recovered. In terms of demand, several rounds of auctions conducted within the month have shown overall weak performance, which has also dragged down the mentality of the spot market. The overall downward pressure on prices remains strong. Under the mentality of supply-demand competition, it is expected that the electrolytic manganese market will remain weak in the short term due to the lack of demand support, and the market is waiting for a new round of steel recruitment guidance.
Related data:
This week, the silicon manganese market has been operating weakly, and the sentiment of rising prices for manganese ore on the cost side has weakened. Recently, spot retail trading has been poor, and some manufacturers have successively delivered orders to steel mills. However, due to steel mills reducing production, spot demand is average, and most manufacturers have silicon manganese inventory. Some manufacturers in Inner Mongolia, the main production area, have relatively serious inventory accumulation compared to the previous period, resulting in a low price shipping sentiment. Some manufacturers in Ningxia continue to reduce and stop production, and the total production is relatively low. In the southern region, due to high costs, the expectation of manufacturers resuming production is poor. On the steel plant side, alloy procurement has been carried out one after another, and steel bidding prices have decreased month on month. Additionally, due to steel plant maintenance, silicon and manganese production has decreased month on month. On the futures side, the main manganese silicon contract this week was driven by black sentiment, and the price continued to decline. The market pattern remained unchanged, and the market broke new lows this week, reaching a low of 6116. According to the commodity market analysis system of Business Society, the market price for silicon manganese in Ningxia region (specification FeMN68Si18) was around 5800-5950 yuan/ton on March 15th.
Steel recruitment situation:
Pohang, South Korea, is bidding for electrolytic manganese from March to April 2024. The quantity is currently unknown, and the deadline for quotation is March 12, 2024. The delivery date is March 31, 2024, and April 26, 2024.
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The bidding price for metal manganese ingots at Panzhihua West Steel in March April 2024 is 12265 yuan/ton (excluding tax acceptance pricing), a decrease of 258 yuan/ton, with a quantity of 600 tons and a delivery date before April 30, 2024.
Industry data:
On March 17th, the base metal index was 1203 points, unchanged from yesterday, a decrease of 25.56% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 87.38% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).
On March 17th, the non-ferrous index was 1119 points, unchanged from yesterday, a decrease of 27.24% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 84.35% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).
According to the price monitoring of Business Society, in the 11th week of 2024 (3.11-3.15), there were a total of 9 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. The top 3 commodities with the highest increase were copper (3.86%), nickel (2.47%), and cobalt (2.25%). There are a total of 11 products with a month on month decline, and the top 3 products with the largest decline are metal praseodymium (-2.03%), neodymium oxide (-1.42%), and metal silicon (-1.41%). The average increase and decrease this week is 0.2%.
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