China's FeMn market continues a stable operation with mild fluctuations. Mainstream price stands at CNY 6,700 per tonne for high carbon FeMn 65p<0.25 and CNY 7,600 per tonne for 75p<0.25. In Northeast China 65p<0.25 price stays at CNY 7,000 per tonne to CNY 7,200 per tonne amid tight supply.
A Northeast China based producer still complains about poor sales except sporadic shipments to steelmakers. This producer has bought a batch of Mn ore from overseas miners, with prices falling 7.8%, hence it believes the future FeMn market is bearish.
According to a Guizhou-based trader specialising in exports, products can hardly be sold to overseas countries since the price for Indian high carbon FeMn is much lower. This trader now offers a price of USD 1,100 per tonne FOB for 65 and USD 1,200 per tonne to USD 1,300 per tonne for 75 FOB, but with no takers.
Medium and low carbon FeMn is mainly used by big steelmakers. In view of the bleak steel market, big steelmakers have decreased the utiliaation of medium and low carbon FeMn.
Market players all hold a pessimistic view towards future FeMn market.
Source: Steel Guru
No comments:
Post a Comment