China’s medium carbon ferromanganese market is tight

News 2021-01-20

This week,most suppliers raised their quotations due to tight supply.The current price of China’s medium-carbon ferromanganese Mn75%min, C2%max is RMB 10,600-10,800/ton ex-factory cash, which is an increase of RMB 200/ton from last week. Taking into account the current tight supply and the active downstream market, industry insiders expect the price of China’s medium carbon ferromanganese to rise further in the coming week.A trader in the south said that in the past two weeks, they asked 7-8 suppliers, but there was no spot inventory. They sold 500 tons last month. Due to the tight spot, they expect to sell 300 tons this month. Their regular suppliers currently offer 10,800 yuan/ton ex-factory cash for medium-carbon ferromanganese Mn75%min, C2%max. For them, they can accept a counter offer of 100 yuan/ton. If they want to buy in advance, they can only wait two week. The supplier’s offer last week was RMB 10,600/ton, and counter offers were not accepted. “We have not purchased in the past two weeks. Two weeks ago we purchased about 200 tons at a price of RMB 10,200/ton,” the trader said.
Taking into account the tight market supply, they expect China’s medium carbon ferromanganese prices to rise in the coming week.The trader’s medium-carbon ferromanganese Mn75%min, C2%max has a regular monthly trading volume of 500 tons. In 2019, it sold about 5,500 tons. In 2020, it sold about 4,500 tons. In December, its sales volume was about 500 tons. , It is expected to sell 300 this month. They currently have no inventory and are flat month-on-month.

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