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SiMn Demands and Price dropped, Mn Ore hasitate to Follow
Ferro-alloys reports: On Last Friday, HBIS finally confirmed the bid price of SiMn6517 at RMB6700(1015usd)/Mt deliver to their plant with long term payment , will purchase 9930Mt in Nov . Price was decreased by RMB900(usd125/mt),and quantity was unexpected reduced by17000mt than last month. comparing with other steels purchased price RMB6900-7000/mt, also lower than RMB300-400/mt.
Due to force cut down the Steel production since Oct 1,2017 to decrease the pollution in North China,HBIS, the largest SiMn customers reduced their demands on SiMn by 62%, that was big decreased, and price fallen down due to lower demands. These Result of decrease demands and price fallen have effected quite alot to suppliers of SiMn in Ningxia and Wulanchabu area, where most of SiMn producers located. Due to not reduced production of SiMn to meet steel demands, SiMn supply is surplus or over demands , Suppliers of SiMn have to reduce their price to meet steel bid level as usual as before.
Due to there are no spot market of SiMn in China , and no Price index to take reference when offer price to steel , and both suppliers and steel customers have to negotiate, and too many low offers to steel plants, who can get supply easily.
According to Ferro-alloys.com reports and investigation that, Price of SiMn in Ningxia falled to RMB6400/mt exw and RMB6300/mt exw in Innermogolia.
Manganese ore from Tshipi Lumpy offered usd5.35/dmtu, falled by usd0.15/dmtu, Comilog Mn 44.5% grade lumpy offered usd6.25,dropped 0.25usd;Mn 43% small size offered usd6.05/dmtu, dropped by usd0.15/dmtu. in Spot Mn market of Tianjin ,Price also dropped. Like South32 lumpy Mn46%min dropped to RMB52/dmtu, Mn37.5% semi-carbonate lumpy dropped to RMB43, Cabon Mn lumpy 44.5% dropped to RMB50,which the prices all were fallen by 5%.
Ferro-alloys.com comments that, SiMn price will go down further due to demands decreased , and more SiMn cannot be sold, and more of producers of SiMn have to sell at lower price to get payment at sight before the end of the year to return loan to the bank. and even some producers bought Mn ore for Nov and Dec shipments, and when these cargo will arrive to China in next Jan or Feb, they already suffered lose if market went worse..
and shomehow If Mn ore price were not decreased , Chinese SiMn producers will decrease to produce SiMn production and decrease demands on Mn ore, which will make Spot inventory increase in Dec and Jan. 2018. and effect Mn ore down further.
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