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Daily: Electrolytic manganese market is weak and stable

In terms of the market, the electrolytic manganese market did not fluctuate significantly at the beginning of the week. Most of the products were shipped at a stable price. The actual transaction was limited, the market price was in a dilemma, and the mood of the merchants was mixed. According to Mysteel's research, the output in October 2022 will be 45,150 tons, an increase of 23.16% from September and a decrease of 51.87% year-on-year. From January to October, it will accumulate 573,670 tons, a year-on-year decrease of 46.71%, and the output will be gradually released. The alliance also announced a new round of production shutdown plans - a full shutdown in January 2023 and a 50% shutdown in February-December to adjust the supply and demand side of the market. In terms of steel recruitment, today's Xinyu Iron and Steel's November metal manganese ingots were priced at 18,290 yuan / ton including tax, down 600 yuan / ton from the previous month, and the purchase quantity was 600 tons, an increase of 100 tons from the previous month; Shandong Iron and Steel Group 11 The monthly supplementary quantity of manganese ingots is 1,300 tons (900 tons of Rizhao Branch and 400 tons of Laiwu Branch); Baowu Esteel’s November bidding quantity of metal manganese ingots is 150 tons; Ansteel’s November electrolytic manganese bidding quantity is 30 tons; Ansteel’s November bidding quantity 30 tons of electrolytic metal manganese; HBIS in November tendered 1,100 tons of electrolytic manganese, and 160 tons of metal manganese ingots. The price has not yet been priced. It will be given certain wind direction guidance when more steel procurement prices are introduced.

In the 200 series stainless steel market, the spot market fell slightly at the beginning of the week, and downstream demand was relatively weak. More to wait and see the market outlook. According to Mysteel research, the crude steel output of 40 domestic stainless steel plants (including the new steel plant Jiangsu Zhongtuo) in October was 3.065 million tons, a month-on-month increase of 15.56% and a year-on-year increase of 26.21%. Among them, the 200 series was 934,000 tons, an increase of 10.14% month-on-month and a year-on-year increase of 37.58%;

On the whole, the current electrolytic manganese market is still in a stalemate between supply and demand, and the demand has not been fully released.