Electrolytic manganese metal price plunged in international market. The Chinese offer price decreased to US$ 3,800-3,900 per tonne at CIF Japan, which decreased by 30% from recent peak in June. Japanese buyers wait the purchase timing with expectation for lower price, potential less than US$ 3,000. The metal price surged to more than triple from US$ 1,550-1,600 per tonne in the beginning of the year when stainless makers increased the purchase volume as substitute for nickel. However, Chinese stainless makers announced 20% output reduction in June. Japanese buyers shifted to low carbon ferromanganese instead of high priced electrolytic manganese metal. The market turned into decrease since mid-June. Japanese buyers are reluctant to buy the metal despite of more than 30% drop in 2 weeks. A trading firm source said Japanese buyers wait the price decreases to US$ 2,500-2,800 per tonne. The price could decrease to less than US$ 3,000.
Japan Steel Scrap Composite Prices (Sangyo Press)03/26/2020
|20000YEN (-)||22000YEN (-)|
|178.94US$ (0.62)||196.83US$ (0.68)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)