Latest Update in the China Manganese Market

Affected by the expectations of improving domestic consumption, both SHFE nickel and LME nickel prices increased before the Chinese New Year holiday. During the CNY holiday, SHFE stopped trading and LME nickel prices fluctuated at a high level within the rage of $28,000-29,800/mt during January 23 to January 27.

During the Chinese New Year holiday, the domestic magnesium market was closed while the magnesium factories maintained normal and stable production for the long-term orders in the early stage.

According to SMM statistics, as of January 28, the social inventory of silicon metal across Huangpu port, Kunming city and Tianjin port totaled 125,000 mt, a slight increase of 2,000 mt compared with that before the Chinese New Year Festival.

This is a roundup of China's metals weekly inventory as of January 20.

SMM statistics showed that industrial silicon inventories across social warehouses of the three regions totalled 123,000 mt as of January 13, 2023, a growth of 43% from a year earlier.

According to SMM statistics, as of January 20, the social inventory of silicon metal across Huangpu port, Kunming city and Tianjin port remained at 123,000 mt.

Prices of #6517 silicon-manganese were 7,300-7,350 yuan/mt in north China markets in cash,

In addition, in the case of limited new molybdenum concentrate capacity around the globe, the supply of ferromolybdenum will remain tight, offering strong support to ferromolybdenum prices.