【Ferro-alloys.com】

Futures: This week, the main contracts of manganese and silicon futures have been fluctuating and organized. The initial price of manganese silicon is 6622, the ending price is 6598, the highest price is 6696, and the lowest price is 6538, with a range increase of 0.4% and a range amplitude of 2.4%. The overall situation is in a high level correction structure, and it is recommended to approach it with a range fluctuation approach.

Spot : The overall stability of the manganese silicon market is maintained, and the current supply increment is significantly coupled with weak demand. In the off-season of the summer, manganese silicon is facing certain pressure to go out of stock, and manufacturers are in a wait-and-see mood when submitting orders. The operating rate in the north remains high, and some manufacturers have recently alleviated the cost pressure on silicon manganese manufacturers, with a certain profit margin. The operating rates in Inner Mongolia and Ningxia have increased to varying degrees. Yunnan's electricity discount has increased, resulting in an increase in production. The mainstream steel bidding price and procurement volume are lower than expected, and the actual transaction price is slightly lower. Manufacturers lack confidence and wait for the start of a new round of steel bidding.

Inner Mongolia silicon manganese 6517# quoted 6400-6500 yuan / ton,

Ningxia silicon manganese 6517# quoted 6400-6500 yuan / ton,

Guangxi silicon manganese 6517# quoted 6500-6600 yuan / ton,

Guizhou silicon manganese 6517# quoted 6500-6600 yuan / ton,

Chongqing silicon manganese 6517# quoted 6600-6700 yuan / ton;

This week's price trend is listed below:

1.Silico manganese market price

【steel mill】

Hesteel Group's silicon manganese recovery in June: 20100 tons, 700 tons less than that of the previous month. The price is 6880 yuan/ton, and the first round inquiry price is 6850 yuan/ton,

Silicon and manganese mining volume in May: 20800 tons. ( volume in June 2022: 22150 tons).

Among them: Chenggang 5000 (-500), Shigang 600 (-100), Hangang 3200 (-800), Tanggang New Base 6300 (-300), Wugang 5000 (+1500), Zhangxuan High tech 0 (-500)

2.Manganese Ore Port Price

(1)China northern port                    Unit: CNY/dmtu

(2)China southern port                     Unit: CNY/dmtu

【Manganese Ore】：

In May 2023, China's total import of manganese ore was 2.5237 million tons, a decrease of 17.69% compared to the total import of manganese ore in April of 3.0662 million tons; An increase of 12.49% compared to May 2022 of 2.2435 million tons;

In May 2023, the import of manganese ore from South Africa was 1.1244 million tons, accounting for 44.55% of the total, a decrease of 21.62% compared to the month on month import of 1.4345 million tons of manganese ore from South Africa in April;

The import volume from Gabon in May was 418500 tons, accounting for 16.58% of the total, a decrease of 16.78% compared to the import volume of 502900 tons in April;

From January to May 2023, China imported 12.84 million tons of manganese ore, an increase of 9.46% year-on-year compared to January May 2022.

3.Mines Performance in 2022- 2023                      Unit:USD/dmtu

4.Manganese ore inventory weekly in Tianjin Port

As of June 23, 2023, the total inventory of manganese ore in Port of Tianjin is 4.503 million tons, 17000 tons more than last week.

To sum up:This week, the manganese silicon market temporarily stabilized operation. Steel recruitment is imminent, and manufacturers have a strong wait-and-see attitude, with insufficient confidence in expectations. In terms of cost, the manganese ore market remains stable, with coke operating in a volatile manner. The profit margin of factories in the north is mainly small profits, while southern factories have increased their operating rates due to preferential electricity bills in Yunnan. Waiting for a new round of steel moves.

• [Editor:倪骏豪]