affynmetaverse| Manganese and silicon prices rose 50% in half a year: Zhengzhou Exchange adjusted handling fees, tropical cyclones affected the supply of manganese ore in Australia

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The market price of manganese silicon has increased by nearly 50%.AffynmetaverseZhengzhou Stock Exchange adjusts transaction fees and opening trading restrictions. China's high-grade manganese ore is scarce and highly dependent on foreign countries, with imports reaching 3141 in 2023.Affynmetaverse. 670000 tons. The flood on Groot Island in Australia has affected the supply of manganese ore and the inventory in Tianjin Port has declined. Experts predict that the shortage of manganese and silicon will be alleviated after three months, and the probability of short-term high shock is high.

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[Zhengzhou Commodity Exchange announced the adjustment of manganese silicon futures trading fee standards, a move aimed at strengthening market risk management] as manganese silicon prices rise by nearly 50%, market investors' attention to this resource continues to rise. In order to strengthen risk management, Zhengzhou Commodity Exchange recently announced that from May 10, 2024, the transaction fee standard for manganese silicon futures 2406, 2407, 2408 and 2409 contracts will be adjusted uniformly to 6 yuan per hand. In addition, the exchange has imposed restrictions on the number of single-day open trades on specific contracts by non-futures company members or clients.AffynmetaverseChina's manganese ore resources are relatively scarce, the degree of external dependence is as high as 90%, and the import volume reached 3141 last year.Affynmetaverse. 670000 tons. The main sources of imports include South Africa, Australia, Gabon and Ghana. At present, due to the severe impact of Tropical Cyclone Megan on Groot Island in Australia, its wharf and port facilities have been severely damaged, hampering sales of Australian manganese mines, and related operations are not expected to resume until the first quarter of 2025. Global manganese ore production reached 20 million tons in 2023, of which the manganese ore base of South32 accounted for 17.7% of the global output. Australia, as an important supplier of manganese ore to China, sent out 7.34 million tons of manganese ore last year, of which about 76 per cent came from Groot Island and the rest from the port of Hedland. The inventory of manganese ore in Tianjin Port has declined recently, by 65000 tons, of which the inventory of Australia Mine has decreased by 74000 tons, indicating the gradual acceleration of inventory decline. In the cost structure of Si-mn alloy, manganese ore cost accounts for 42%, coke cost accounts for 18%, electricity price cost accounts for 25%, and other costs account for 15%. The steel industry has a huge demand for manganese, more than 90% of which is used in iron and steel production. Because manganese can effectively improve the high temperature processability of steel and reduce its brittleness, it has an important impact on the quality of iron and steel products. Although the recent price of manganese and silicon is greatly affected by market sentiment fluctuations and exchange intervention, and there is a high possibility of high volatility, industry insiders believe that driven by high profits, the shortage of manganese and silicon supply is expected to be alleviated in three months' time. Experts advise investors to be cautious at this stage to avoid blindly chasing higher.

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