【Ferro-alloys.com】

This week, the manganese silicon market was weak and stable, with a significant increase in supply and weak demand. Prices remained stable, and the market's enthusiasm for inquiries was not high, resulting in average trading volume. There were rumors of a slight adjustment in electricity bills in August, and manufacturers were strongly reluctant to sell at low prices. On the demand side, there has been a slight decrease in the production of steel mills, resulting in a decrease in production. On the downstream side, steel mills are operating at a high level, maintaining a strict demand for furnace materials procurement; Spot trading is weak, demand in the south is weak, manufacturers' willingness to ship on the market is increasing, and hedging positions may increase, limiting subsequent gains.

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 priced silicon manganese for  6700 yuan/ton in July and 6880 yuan/ton in June. (priced at 7950 yuan/ton in July 2022).

July silicon manganese consuming quantity : 20100 tons. consuming quantity of silicon manganese in June: 20100 tons. (July 2022 mining volume: 22800 tons).

2.Manganese Ore Port Price

(1)China northern port                    Unit: CNY/dmtu

(2)China southern port                     Unit: CNY/dmtu

【Manganese Ore】：

In June 2023, China's total import of manganese ore was 2.5135 million tons, a decrease of 0.4% compared to May's total import of manganese ore of 2.5237 million tons; An increase of 12.49% compared to May 2022 of 2.2435 million tons;

In June 2023, the import of manganese ore from South Africa was 946000 tons, accounting for 38% of the total, a decrease of 15.9% compared to May when South Africa imported 1.1244 million tons of manganese ore;

The import volume from Gabon in June 2023 was 275200 tons, accounting for 11% of the total, a decrease of 34% compared to May's import volume of 418500 tons;

From January to June 2023, China imported 15.34 million tons of manganese ore, an increase of 8.8% compared to the same period last year.

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

4.Manganese ore inventory weekly in Tianjin Port

As of July 14, 2023, the total inventory of manganese ore in Port of Tianjin is 4.325million tons, 164000 tons less than last week.

To sum up:The manganese silicon market is operating weakly. In terms of supply, mainstream steel bidding prices are lower than market expectations, coke continues to rise, manufacturers' profits are significantly compressed, their mentality is pessimistic, and the market has bearish sentiment. Southern manufacturers have successively stopped production, while Shanxi and Shaanxi manufacturers mainly schedule production, while overall manganese silicon production has declined. Manufacturers in Ningxia are on the brink of losses, and they are reluctant to sell at low prices. Pay attention to the future profits of steel mills and specific industry policies.

• [Editor:倪骏豪]