China's electrolytic manganese output increased in October

According to Hainan West Asia Group, China’s electrolytic manganese output in October 2023 was 97,200 tons, an increase of 20.07% month-on-month and 104.51% year-on-year. From January to October 2023, my country's total electrolytic manganese output was approximately 873,900 tons, a year-on-year increase of 44.99%. The main reason for the increase in production in October is: the supply side meeting decided that the price of electrolytic manganese will follow the market, and the production plan is to start at 70% of the production capacity every month, and no supplement will be made after the expiration date. If the production is averaged throughout the month, there will be 9 days The output goods are delivered to the public warehouse, and the price is based on USD 1268/ton. On the demand side: The total output of stainless steel crude steel in the country decreased in October, mainly due to the decline in the price of 300 series stainless steel, the tightening of steel mill production profit margins, and some steel mills suspending production or switching production, so the overall output decreased. However, due to the impact of production conversion, the output of 200 series increased, and the demand for electrolytic manganese was still supported.

Entering November, the meeting decided that all manganese plants would still maintain 70% of their production capacity. In addition, major plants in Guangxi and Hunan regions of China have resumed production. However, at the same time, some manganese companies have stopped production due to production pressure. The increase in output is offset by the decrease. Temporarily This is reflected in a slight increase in overall output. According to the manganese plant production scheduling survey, the supply side is expected to produce approximately 98,600 tons in November.

According to Hainan West Asia Group's research, the export situation of electrolytic manganese in October was acceptable, and the purchasing situation for the whole month was the same as last month. However, similar to domestic steel mills, overseas customers are less willing to accept increases in manganese prices, so the export quotations in the future are also relatively low.

For more information on ferroalloy price trends and market conditions, please contact Hainan West Asia Group.