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Saturday, October 23, 2021

China's EMM Spot Prices Likely to Stand High Before National Day Holiday - SMM - Shanghai Metals Market

Last updated Thursday, September 23, 2021 02:31 ET , Source: NewsService

China’s total exports of wrought manganese, manganese products, unwrought manganese, shredded scrap, and powder stood at 33,100 mt in August, down 4.32% month on month but up 22.73% year on year, according to SMM statistics.

SHANGHAI, Sep 23 (SMM) – China’s total exports of wrought manganese, manganese products, unwrought manganese, shredded scrap, and powder stood at 33,100 mt in August, down 4.32% month on month but up 22.73% year on year, according to SMM statistics.

China’s total exports of unwrought manganese, shredded scrap, and powder stood at 29,440.74 mt in August, down 12.16% month on month but up 27.52% on the year, and the exports of wrought manganese and manganese products recorded 3,705 mt in August, up 228.92% on the month, but down 5.5% on the year.

According to SMM survey, the export volume of electrolytic manganese metal (EMM) and manganese products totalled 241,000 mt from January to August 2021, a slight increase of 0.54% from the same period in 2020.

The EMM spot prices in the domestic market did not fell significantly in September, mainly because the decline in the EMM demand by steel mills was limited despite the price rise. However, the supply and demand of EMM in north China weakened simultaneously due to the power rationing in early Q4. The EMM spot prices are expected to stand firm before the National Day holiday.

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