Weekly Review of Manganese Alloy Market

（4.11-4.15）

[Ferro-Alloys.com]

The silicon-manganese futures 2205 contract market performed in general. On April 11, the intraday high was 8830 points, the lowest was 8594 points；the intraday high on April 12 was 8736 points, the lowest was 8590 points;the intraday high on April 13 was 8690 points, and the lowest was 8602 points;on April 14, the intraday high was 8798 points, the lowest was 8610 points；as of press time today, the intraday high was 8846 points and the lowest was 8696 points.

In terms of manganese ore：The manganese ore market still maintains a weak and stable operation, the overall market sentiment is weak, the transaction is general, the transaction is scattered, and the willingness of traders to ship is obvious, but the manufacturers are more cautious in purchasing. Some traders are still optimistic about the price of oxide ore, while carbon dioxide ore is obviously weaker. In addition, as far as the recent floods caused by heavy rains in South Africa are concerned, there is currently no impact on mine production, but market participants said that it will definitely have an impact on truck transportation and port detention, and some pressure may be transferred to Port Elizabeth in the later stage.

In terms of spot：Although the recent performance of manganese ore market is generally average and the price has loosened, the ore price remains high compared to it before, and the coke market is relatively strong，coupled with the continuous news from the market, the sentiment of factories selling goods at low prices is not high, but the actual demand has not improved significantly, and the manganese market has fallen into the embarrassing situation of "up and down". The overall market situation is deadlocked, and the market quotation has not been adjusted significantly.As of this Friday, Si-manganese 6517# in Inner Mongolia offers 8400-8500 yuan/ton, Si-manganese 6517# in Ningxia offers 8300-8400 yuan/ton, Si-manganese 6517# in Guangxi offers 8400-8500 yuan/ton, Si-manganese 6517# in Guizhou offers 8400 -8500 yuan/ton, Si-licomanganese 6517# in Chongqing offers 8500-8600 yuan/ton：

1、Silicon Manganese price SiMn6517# Unit: CNY/mt

【Steel Tender】HBIS Group's April silicomanganese bidding price was 8,800 yuan/ton (March price was 8,350 yuan/ton), the first round of inquiries was 8,700 yuan/ton, April silicomanganese extraction: 24,450 tons (March silicon-manganese extraction: 23,000 tons).

2、Manganese ore port price

(1)、China northern port Unit: CNY/dmtu

(2)、China southern port Unit: CNY/dmtu

【Manganese Ore】Under the circumstance that the actual demand has not improved significantly, the recent manganese ore market is also stable and slightly weak. However, due to the continuous fermenting of heavy rain events in South Africa (the heavy rain in South Africa on April 12 mainly affected the port of Durban, the largest port in South Africa, a large number of containers currently docked at Durban, the largest port in Africa were washed away by floods and scattered around. Affected by the torrential rain in South Africa, the shipment of manganese ore in South Africa may be delayed, manganese miners may hold on to the sentiment or strengthen, and wait-and-see sentiment may emerge). There is hope in the industry for the future market outlook of manganese ore, and further attention is needed.In February 2022, China imported 1,940,300 tons of manganese ore, a decrease of 27.45% from the 2,674,600 tons imported in January; among which, the import volume from South Africa in February was 1,130,400 tons, a decrease of 20.33% from the 1,418,900 tons imported from South Africa in January.Imports from South Africa in February accounted for 58.26% of the total, and imports from Australia in February were 200,600 tons, a decrease of 44.04% from the 358,500 tons imported from Australia in January, and imports from Australia in February accounted for 10.34% of the total.From January to February 2022, China imported 4.6149 million tons of manganese ores.

3、Mines Performance in 2022 Unit:USD/dmtu

4、Manganese ore inventory weekly in Tianjin Port

As of Apr.8th, 2021, the total inventory of manganese ore in Tianjin Port was 3.759 million tons.

To sum up：With high inventory and low demand, short-term silicon-manganese alloy market is likely to operate weakly but due to high costs, it is unlikely that manganese prices will fall sharply. As for the later trend, in addition to paying close attention to the lifting of the epidemic (if the lockdown is lifted in various places, the demand for silicon-manganese and other alloys may improve), changes in the relationship between supply and demand (except for the news of resumption of production in some areas, some companies intend to suspend production due to cost inversions and at the same time, under environmental protection, the actual output is also slightly affected), raw material price trends, etc. can not be ignored either.

• [Editor:zhaozihao]