【Conference Report】Fierce Competition Between Miners Becomes New Normal

  • Tuesday, June 02, 2015
  • Source:ferro-alloys.com

  • Keywords:Mn Ore Manganese Ore
[Fellow] [Ferro-Alloys.com]Continued poor performance of manganese alloy since early of 2015 gave rise to falling future price of manganese ore. After months of downturn, there was a sign of stabilizing for new round future quotation in terms of manganese ore, but whe...

 [Ferro-Alloys.com]Continued poor performance of manganese alloy since early of 2015 gave rise to falling future price of manganese ore. After months of downturn, there was a sign of stabilizing for new round future quotation in terms of manganese ore, but whether or not price of manganese ore will keep on track to upward that may still uncertain. At12th China Ferro-Alloys International Conference, hosted by CCCMC and Ferro-Alloys.com will be held in May 27-29, 2015 in Shangri-La Hotel, Qingdao, Mr. Wang Yue, General Manager of Shanghai Jinneng International Trade Co., Ltd, made a splendid speech on the topic of China Manganese Market Analysis and Outlook.

Firstly, Mr. Wang Yue gave a comprehensive analysis ranging from macro economy to steel market and demand and supply for ferroalloys. Mr Wang pointed out that China's iron and steel industry has entered a period of steady development, a spurt of growth in demand is difficult to reproduce, which also determines the basic saturated condition for actual demand on ferroalloys. In long-term perspective, with the use of scrap rate increase, the demand for ferroalloys will likely to appear negative growth. Excess supply served as the important problem to trouble ferroalloy industry. As demand rates growth slow down or standstill, imported manganese ore in China would also face oversupply trouble.

Secondly, Mr Wang made a comprehensive analysis ranging from total imports for manganese ore in recent year to manganese ore inventory changes to imported ore varieties structure changes, and to future quotation of ore and so on. Mr Wang said that the proportions of non-mainstream manganese ore began to diminish since last year affected by fluctuation of price, while the proportions of mainstream manganese ore accounted to larger part than before, and the new price system will bring about new changes on ore use for alloy producers. In addition, Mr Wang added that devaluation of the currency in manganese ore countries against dollar would become important factor to affect ore price. More than that, the volatility of the RMB increased market uncertainty.

Last but not least, General Manager Wang said that manganese alloy would still face to a slightly downturn on the ground of no sudden circumstance occur which in turn may impact on ore market.

 

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  • [Editor:Sophie]

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