【Ferro-alloys.com】

Futures: This week, the main contracts of manganese silicon futures have been fluctuating and organized. The initial price of manganese silicon is 6486, the ending price is 6508, the highest price is 6614, and the lowest price is 6418, with a range increase of 0.49% and a range amplitude of 3.03%. It is recommended to approach it with interval oscillation.

Spot : This week, the manganese silicon market has been operating steadily and weakly, with a significant increase in supply and weak demand. The market's enthusiasm for inquiries is not high, and the trading volume is normal. The manufacturer offers with a wait-and-see attitude. Some manufacturers in Ningxia mainly focus on pre delivery hedging orders, while retail and steel mills have fewer new orders. Yunnan's electricity discount has increased, resulting in an increase in output.                  

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 6500-6600 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 Tianjin Port was 4.486 million tons.

To sum up:This week, HeSteel launched its July steel bidding, but pricing is currently unclear. Traders mainly rely on inquiry and are cautious when entering the market for procurement. Overall, the consolidation of silicon manganese is weak in the short term, and the downward trend of the market may affect the pricing of steel bidding to some extent. It is recommended to be cautious and wait and see.

• [Editor:倪骏豪]