**Abstract:**
This week, the electrolytic manganese market remained relatively stable. Although demand has not seen a significant improvement, the prices of manufacturers have gradually stabilized due to the support from declining costs and limited spot supply, which has helped restore market confidence. Prices for silicomanganese and ferromanganese also remained stable, with only modest spot transactions and a generally calm market. The price of imported manganese ore was also steady, despite weak demand, as the downward trend in mine prices has slowed.
**Key Insight:**
The electrolytic manganese market showed signs of stabilization this week, driven by reduced production costs and limited spot supply. Despite weak demand, manufacturers maintained their pricing, and market sentiment improved slightly. The silicomanganese and ferromanganese markets were also stable, with little change in spot trading activity. Meanwhile, the imported manganese ore market remained steady, though demand continued to be sluggish.
**1. Price Monitoring**
[Image: A graph showing the price trends of electrolytic manganese over the past week]
**2. Electrolytic Manganese, Manganese Alloys, and Imported Manganese Ore**
**Electrolytic Manganese**
From July 15 to July 19, the electrolytic manganese price remained stable. Manufacturers showed less willingness to lower prices. On July 19, the factory price in the Jishou area was between 11,500–11,600 yuan per ton.
Although demand has not significantly increased, the drop in production costs and limited spot supply helped stabilize prices and rebuild market confidence. However, many manufacturers are still reluctant to halt production due to uncertain market conditions.
The export market for electrolytic manganese remained sluggish, with no substantial increase in actual demand. Foreign buyers continue to suppress export prices, which currently range between 1,975–2,025 USD per ton.
Raw material prices, including manganese ore, sulfuric acid, and selenium dioxide, remained largely unchanged. On July 19, the price of 98% selenium dioxide was 260–265 yuan/kg, while 98% sulfuric acid in Hunan was priced at 380–430 yuan/ton.
[Image: A chart illustrating the price movements of key raw materials]
**Manganese Alloy Market**
Prices for silicomanganese and ferromanganese remained stable during the week, with minimal spot transactions and a generally quiet market.
On July 19, the ex-factory price for Guizhou and Hunan silicomanganese 6517 (including tax) was 6,600–6,800 yuan/ton, while in Ningxia and Inner Mongolia, it was 6,650–6,850 yuan/ton. Southern silicomanganese 6014 (excluding tax) was quoted at 5,350–5,500 yuan/ton. The factory price for phosphorus-containing high-carbon ferromanganese 65C7 in Hunan and Guizhou was 6,100–6,200 yuan/ton.
Downstream demand for silicomanganese did not improve significantly, and factory operating rates remained stable. Some areas reported low production capacity, leading to limited spot stock. The price of silicomanganese 6014 remained low, with weak demand.
Guangdong Shaogang recently launched an August silicomanganese tender, planning to purchase 5,000 tons of silicomanganese 6517—up 1,500 tons from the previous month. This may increase competition among manufacturers, but the weakening price of imported manganese ore could pressure steel mills to keep silicomanganese prices stable.
Ferromanganese prices also remained stable, with flat demand and no major market improvements. Steel mills are expected to start purchasing ferromanganese next week, and prices are likely to remain similar to last month.
[Image: A chart showing the price trends of silicomanganese and ferromanganese]
**Manganese Mine Market**
Imported manganese ore prices remained steady this week, despite weak demand. The rate of price decline has slowed, and port inventory levels have slightly decreased, easing pressure on miners.
Domestic manganese ore prices remained flat, with limited spot transactions. The sluggish performance of manganese alloys and imported manganese ore continues to drag down domestic manganese ore demand. Operating rates for manganese mines in Hunan, Guangxi, and Guizhou remain low.
**3. International Market Review**
In Europe and the U.S., silicomanganese and ferromanganese prices remained stable, with weak downstream demand. Market conditions are still difficult to improve.
MB’s electrolytic manganese price was stable this week, but demand remained weak. European demand is mainly driven by stainless steel production. An analyst from Ukraine noted that the European stainless steel market is unlikely to see a significant improvement this year, which could lead to even weaker demand for electrolytic manganese.
[Image: A chart showing international electrolytic manganese price trends]
**4. Next Steps**
**Stainless Steel Market**
In Wuxi, coil prices rose slightly this week, with the 2 series stabilizing after a period of decline. The 3 series saw a modest increase of around 200 yuan/ton, while the 4 series remained stable.
In Foshan, coil prices rebounded, with the 2 series rising by 100 yuan/ton. The 3 series followed a slight upward trend, and the 4 series remained steady.
**Steel Market**
According to the China Iron and Steel Association, average daily crude steel output in the first ten days of July was 1,694,800 tons, down 3.84% from the previous month. National average daily output was estimated at 2.083 million tons, a 4.50% monthly decrease.
Market conditions remain weak, with high inventory levels and poor capital turnover. Environmental regulations have led to more mill shutdowns, and blast furnace operating rates have declined. As of July 12, the operating rate of 163 blast furnaces in China was 88.35%, down 0.26% week-on-week.
**5. Market Outlook**
Electrolytic Manganese: Next week, stainless steel plants are expected to release purchases of electrolytic manganese. Even if demand remains small, supported by cost reductions and limited supply, prices are expected to remain stable.
Manganese Alloys: Steel mills will continue to tender for silicomanganese and ferromanganese. The market is expected to remain cautious, with little change in prices.
Imported Manganese Ore: The decline in imported manganese ore prices has slowed significantly. Unless there is a major shift in silicomanganese prices, the imported manganese ore market is expected to remain stable.
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