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The decline of electrolytic manganese slows down, and silico-manganese and ferromanganese remain stable.
**Abstract:**
At the end of June, the electrolytic manganese market remained weak. Prices continued to decline, and downstream demand was cautious, waiting for stronger market sentiment before making purchases. As a result, buying activities remained limited, increasing operational pressure on electrolytic manganese producers. Meanwhile, the price of silicomanganese 6517 remained stable this week, with little trading activity. The demand for silicomanganese 6014 was flat, and prices saw a slight decline. Due to ongoing bidding processes by major steel mills, current silicomanganese producers are maintaining steady offers while waiting for final pricing announcements.
**Core Tip:**
By the end of June, the electrolytic manganese market showed clear weakness. With falling prices, downstream buyers were hesitant, leading to minimal purchasing activity and rising operational pressures for manufacturers. The factory price of electrolytic manganese in the Jishou area dropped to 12,000–12,100 yuan/ton on June 28. Although the market remained weak, the pace of price declines slowed, indicating possible stabilization. Manufacturers’ willingness to cut prices further weakened, and some began considering production reductions. Raw material prices such as manganese carbonate and sulfuric acid remained stable, but selenium dioxide prices declined slightly, with 98% selenium dioxide priced at 285–290 yuan/kg.
**Price Monitoring**
[Image: Weekly Manganese Quotes (2013.6.24–2013.6.28)]
**Electrolytic Manganese, Manganese Alloy, and Imported Manganese Ore**
**1. Electrolytic Manganese**
From June 24 to June 28, the price of electrolytic manganese fell by 150 yuan/ton, reaching 12,000–12,100 yuan/ton in the Jishou area. Despite the weak market, the rate of price decline slowed, signaling potential stabilization. Manufacturers became less willing to lower prices and more inclined to reduce output. The price of raw materials like manganese carbonate and sulfuric acid remained stable, while selenium dioxide prices weakened slightly.
**2. Manganese Alloy Market**
The silicomanganese 6517 price remained stable this week, with limited spot transactions. Demand for silicomanganese 6014 was flat, and prices saw a minor decline. High and medium carbon ferromanganese prices were stable, with overall market performance calm. Major steel mills such as Hegang and Shagang had not yet confirmed their July bidding prices, so silicomanganese producers were waiting for further developments. The market outlook for silicomanganese 6517 is expected to remain stable in July.
High-carbon ferromanganese prices stayed steady, but spot demand remained sluggish, with low operating rates across most regions. Only Yunnan saw higher production due to seasonal electricity pricing. Carbon-manganese iron prices were stable, with limited spot trading and some manufacturers holding firm on offers.
**3. Imported Manganese Ore Market**
Manganese ore imports remained stagnant, with downstream alloy plants showing little interest in purchasing. Miners’ offers were weak, and BHP maintained its previous manganese ore price for China. This prevented a significant drop in mine prices but also limited any upward movement. Domestic manganese ore demand remained poor, keeping prices weak. The risk of price inversion between domestic ports and overseas markets continues to rise.
BHP’s latest offer for manganese ore to China was Mn45.5–46% Australian CIF at $5.95/ton, and Mn48% Australian seed CIF at $5.65/ton — unchanged from the previous period.
**International Market Review**
The silicomanganese and ferromanganese markets in Europe and the U.S. remained flat, with weak prices due to sluggish demand. The demand for electrolytic manganese remained low, and the MB price for electrolytic manganese fell by $15/ton on Wednesday.
**Stainless Steel Market**
In Wuxi, the market remained stable but cautious, with limited price adjustments. Some areas experienced supply shortages, and merchants were reluctant to change prices. The 3-series prices weakened, affected by nickel price fluctuations. In Foshan, coil prices declined again, with 3-series prices dropping by 200 yuan. Although nickel prices caused some volatility, coil prices only rose slightly. The 2-series and 4-series markets remained under pressure.
**Steel Market**
With overcapacity and weak downstream demand, the steel industry faced thin profit margins. Tight liquidity increased survival pressures for many steel companies. Looking ahead, with no significant improvement in capital availability and limited demand growth, the steel industry is likely to continue facing tight cash flows, which could lead to further downward pressure on steel prices.
**Market Outlook**
- **Electrolytic Manganese:** The transaction price has reached strong support at 12,000 yuan/ton. While the short-term market remains weak, price adjustments are expected to be limited.
- **Manganese Alloy:** With stable prices in June, silicomanganese and ferromanganese bids from steel mills are expected to remain stable in July. Major steel mills will announce their bidding prices next week, supporting near-term stability.
- **Imported Manganese Ore:** Continued weak demand for domestic manganese ore keeps prices under pressure. BHP’s unchanged pricing highlights the ongoing challenge for miners, with the risk of price inversion between domestic and international markets growing.