The electrolytic manganese market remains weak and stable, with wait-and-see measures in mind.
The downstream market conditions are weak, and the bidding and purchasing prices of electrolytic manganese and manganese products are low. Due to the support of cost and other factors, as well as the upcoming alliance meeting in the near future, the market price of electrolytic manganese remains weak and stable. Spot transactions are mainly based on on-demand procurement. The later price trend still needs to wait and see the actual supply and demand changes.
Despite rising sulfuric acid prices, China’s electrolytic manganese 99.7%min market price remained stable this week due to sluggish downstream demand. Driven by stable domestic market prices, China’s electrolytic manganese export prices and European market prices both showed a stable trend this week.
Due to sluggish demand from consumers, mainstream prices in China’s silicomanganese market fell this week, and the market was operating relatively slowly. Mainstream prices in China’s manganese ore market showed a stable trend this week as suppliers raised prices. Due to slow market operation and no price adjustment by suppliers, the mainstream transaction price of China’s ferromanganese market remained unchanged this week.
The latest customs data shows that from January to February 2024, the national export volume of electrolytic manganese was 67,200 tons, a year-on-year decrease of 0.04 million tons, or 0.6%. Among them, the export volume in January was 43,200 tons, an increase of 17,500 tons or 68.0% from the previous month, and an increase of 10,500 tons or 32.2% year-on-year. Export volume in February was 24,000 tons, a decrease of 19,200 tons, or 44.5%, from the previous month, and a decrease of 10,900 tons, or 31.3% year-on-year.
From January to February 2024, the national import volume of electrolytic manganese was 9,501 tons, of which the import volume in January was 4,500 tons and the import volume in February was 5,001 tons.
