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公司荣誉

公司荣誉
星期日, 五月 03, 2009

Price of Chinese electrolytic manganese metal suddenly turns to rise

Following an expectation to recover stainless steel production in China and a rebound of prices for nickel and chrome as raw materials for stainless steel production, an attitude for sales of Chinese electrolytic manganese metal has suddenly turned to be aggressive. Both of producers and shippers in China have still held speculative factors as a Chinese characteristic and, being influenced by this aspect, the price of Chinese electrolytic manganese metal for export is now being offered at US$2,500 per metric ton CIF Japan.

The latest price of Chinese product for export prevailed in last week was US$2,300 per metric ton CIF. LME price of nickel metal as a rival for manganese metal has suddenly turned to rise from the 10th of April to a level of US$12,000 per ton from a lower level than US$10,000 per ton as seen before the 1st of April. Accordingly, price of nickel metal transacted in domestic market of China has been risen successively from the beginning of April, because Jinchuan Group, as a leading nickel smelter in China, has insisted on an improvement of the price at present, which is not payable for its production cost.

The sales of high carbon ferro-chrome at discounted prices by India have also disappeared from the market and spot price of charge chrome has risen by 14% to 65 – 66 US-Cents per lb. of Cr CIF Japan from the bottom (58 US-Cents) with keeping a basic tone to rise further.

The output of stainless steel by Baosteel Group of China in January – March quarter of 2009 is anticipated to maintain a scale of 100,000 tons without any increase of stocks and a future map of stainless steel production in China (viewed to decrease at the beginning of 2009 but is being felt to increase at present) is currently changing somewhat.

Being influenced by this change of the circumstances surrounding stainless steel, the market of electrolytic manganese metal in China has suddenly turned to take an aggressive attitude for sales. Since the Central Government of China has more strengthened the regulations for environmental pollution from the beginning of 2009, the production of electrolytic manganese metal in China has been driven to continue on a low level, in addition to a higher cost to be not payable for its production, and the supply situation of this metal in China has become tight. By taking a chance on a sharp rise of nickel prices, Chinese producers have endeavored to sell electrolytic manganese metal at high prices but this attempt is successful or short-lived, depending on further developments of the matter.

Even a forecast of nickel prices has divided. There is a view in the market that the production of stainless steel mainly in part of Europe and part of Asia (Taiwan and China) will revive in October – December quarter of 2009 and jump by 32% from that at present. On the other hand, at the Conference held in last week at Pittsburgh of the USA, an atmosphere was felt that the ceiling price of LME nickel will be on a level of US$13,000 per ton as the maximum for the time being. Therefore, a shortsighted view of nickel prices has divided to an extreme extent. – TEX Report

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