Ordering before the festival in September 2022 drives the price of electrolytic manganese to recover slightly

From September 1, 2022 to September 28, 2022, the market price of 1 # electrolytic manganese rose. The spot market price in East China was 16550 yuan/ton at the beginning of the month and 16700 yuan/ton at the end of the month, with a monthly increase of 0.91%.


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The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. It can be seen from the weekly and monthly K column chart of electrolytic manganese above that since March 2022, electrolytic manganese has continued to decline, and only slightly warmed up in June and August, with an increase of 0.6% in June and 0.61% in August, both of which did not exceed 1%; From the weekly chart, we can see that the electrolytic manganese market has maintained a stable and weak trend for a long time. Only at the end of August, it rose slightly, with a rise rate of only 0.61%. The electrolytic manganese market was weak as a whole, and the price of electrolytic manganese rose slightly in September.


Manganese ore: In September, the trading atmosphere in the manganese ore market was good. The manufacturer’s replenishment before the National Day holiday led to a better market confidence. High cost ores continued to arrive in Hong Kong. Small and medium-sized traders had weak cargo rights, and the price fixing atmosphere continued. As of September 28, the northern port: Australia, 44-45 yuan/ton; Semicarbonic acid in South Africa: 34.5-35.5 yuan/ton; Gabon 42-43 yuan/ton; Brazil mine 41.5-42.5 yuan/ton; High speed railway in South Africa is 31.5-32 yuan/ton. Southern port: Australian block 45.5-46 yuan/ton; Semi carbonic acid: 35.5-36 yuan/ton; Gabon: 43-44 yuan/ton; Brazil mine 42.5-43.5 yuan/ton; High speed railway in South Africa is 31.5-32 yuan/ton. The spot price of manganese ore has temporarily stabilized.


In August 2022, China imported 2400026 tons of manganese ore, a decrease of 8.48% month on month (2622511) and a year-on-year increase of 7.82% (2226000 tons in August 2021). 220203 tons of manganese ore in Australia, 501144 tons in Gabon, 991514 tons in South Africa and 114388 tons in Brazil, accounting for 9.18%, 20.88%, 41.31% and 4.77% of the total imports respectively.


From January to August 2022, the import volume of manganese ore totaled 19131536 tons, down 8.24% year on year (20848700 tons from January to August 2021).


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Since the end of February, the market price of electrolytic manganese has dropped all the way from 42075 yuan/ton to 16300 yuan/ton on August 10, a cumulative decline of 61.26%. At the end of August, the price of electrolytic manganese began to rebound slightly, rising from 16300 yuan/ton to 16700 yuan/ton at the end of September, a cumulative increase of 400 yuan/ton. The domestic alliance will implement the measures of limiting production from August to December. After the alliance meeting, the price starts to rise slightly. The enterprises have a strong price mentality, and the market has a certain boost. After entering September, the market has digested the impact of the alliance’s limiting production, and the price has entered a continuous consolidation period. Near the end of the month, Ningxia, the main production area, was affected by the traffic, and the external transportation was limited, which had a certain impact on the market supply. In terms of downstream demand, the market situation has been volatile recently, and procurement on demand has been maintained, and long-term agreements have been mainly implemented. There is less bulk cargo. As there is a certain demand for goods in the market near holidays, the market price has risen slightly at the end of the month. The recent introduction of steel bidding is in a reasonable range, and most steel mills gradually resume purchasing electrolytic manganese, which has boosted the market mentality. However, due to the downstream demand, the market continues to be weak. It is expected that the future price will remain stable and weak, with a strong supply and demand game mentality.


Relevant data:


In August 2022, China’s imports of electrolytic manganese will be 1000.01 tons, a month on month decrease of 2500.21 tons and a month on month decrease of 71.43%; In August 2022, the export volume of China’s electrolytic manganese was 19820.93 tons, a month on month decrease of 9389.71 tons and a month on month decrease of 32.14%.


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