Daily News On 0924

I

24th Sept 2

2008

China

Stainless

Steel

&

Raw

Currencies exchange rate

Materials

International Congress Oct 15 th-18 th Wenzhou, Zhejiang Please follow www.ferro-alloys.com for the latest information!

RMB

Per USD

Per EUR

100 JPY

6.8129

10.0 051

6.46 05

China’ s Import Volume of Manganese Ore Decreased in August

Manganese Ore

According to the statistic of China Customs, import volume of manganese ore of China in August was 605,484 tons, which, not only decreased by 33.2% from July 2008, but also 21.6% less than August 2007. It is the first time in 2008 that the import volume is less than the same period of 2007. Import value also decreased, to USD332,242,415, which is 21.9% less than the previous month. In the first 8 months of 2008, China’ s total import volume of manganese ore is 5,370,823 tons, increased by 32.7% from the same period of 2007. However, since the present stock is said to as much as 1.5million tons in China’ s ports, it is predictable that import volume of manganese ore would keep decreasing in the coming months. As for main suppliers of China’ s imported manganese ore in August 2008, South Africa has been the biggest exporter in amount, transporting 177,249 tons. Australia exported 168,735 tons. There are 9 countries that exported more than 10,000 tons manganese ore to China in the month. Besides the two mentioned above, they are Brazil, Gabon, Malaysia, Morocco, Myanmar, Indonesia and Namibia. Editor: Gaspar

Most Factories Suspend Production for Silicon manganese’ s Dropping Price

Silicon Manganese

Sharply dropping price of silicon manganese leads to silicon manganese factories large scale suspending producing temporarily in major producing areas. Except Shanxi and Inner Mongolia, other places like Ningxia, Hebei, Guangxi and Guizhou and so on also have the same situation. According to one producer in Guizhou, their surrounding areas output has already reduced by 80%. Although there are many factories shut down, most of them still have some stockpiles. One producer in Ningxia indicated that they will not sell if silicon manganese price below RMB12,000/mt. From current situation, southern area silicon manganese price drop down to RMB12,000/mt, and most producers said that transaction is still poor. Editor: Sophie

Chrome Product Prices All Decreasing

Chrome

Recently, chrome product prices keep dropping with dull prospect in China’ s domestic market. International chrome ore market is also soften, under such condition, traders did little imports business, and it is analyzed that China’ s import volume of chrome ore would drop sharply during Oct. and Nov. it is also predicted that with chrome ore price decreasing in Q4, traders would stop importing chrome ore for present. China’ s ferrochrome market: quoted price like RMB12,000/bmt appears in spot market, and because bid price from TaiSteel was rumored to still fall, producers began to pour stock, which has an negative impact on market stability.

Compared with chrome ore and ferrochrome, chrome price decreases slowly. Quoted price is still above RMB86,000/mt, however, prices exceed RMB90,000/mt don’ t occur any more. Editor: Amanda

Domestic Ferromoly Price Down in a Rapid Way

Ferromoly

At the end of Sep, domestic ferromoly market appeared to be worsening further. Until now, the ex-work price of ferromoly had down to RMB255,000-263,000/mt, RMB290,000-295,000/mt for the same 2007 period. Besides, the moly concentrate price in Luanchuan had down to RMB3,600-3,650/mt. some trader thought its price might decreased to RMB3,000/mt. It is obvious that traders did not take a good view on future market for the decreasing demands. As far as the present market is concerned, there is no beneficial factor to convert this depressed market. Therefore, insiders estimate that ferromoly market may keep soft in the near future. Editor: Julia

Average Export Price of Coke Increases 150% in First Seven Months

Coke

According to the statistic of China Customs, import volume of manganese ore of China in August was 605,484 tons, which, not only decreased by 33.2% from July 2008, but also 21.6% less than August 2007. It is the first time in 2008 that the import volume is less than the same period of 2007. Import value also decreased, to USD332,242,415, which is 21.9% less than the previous month. In the first 8 months of 2008, China’ s total import volume of manganese ore is 5,370,823 tons, increased by 32.7% from the same period of 2007. However, since the present stock is said to as much as 1.5million tons in China’ s ports, it is predictable that import volume of manganese ore would keep decreasing in the coming months. As for main suppliers of China’ s imported manganese ore in August 2008, South Africa has been the biggest exporter in amount, transporting 177,249 tons. Australia exported 168,735 tons. There are 9 countries that exported more than 10,000 tons manganese ore to China in the month. Besides the two mentioned above, they are Brazil, Gabon, Malaysia, Morocco, Myanmar, Indonesia and Namibia. Editor: Gretel

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Demand: Ferro Silicon: AL TANNAN GENERAL TRADING COMPANY for more information please visit www.ferro-alloys.com Ferro

Silicon

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www.ferro-alloys.com Chrome ore: Tianjin Zhongrong Furnace Burden Co.,Ltd for more information please visit www.ferro-alloys.com Notice: If you have any doubt or comment on above News, please contact us by e.mail:[email protected]; All News is edited by our editor on its view, we are not responsible for any risk to you if it were from any of above news.