The Game between Demand and Supply Got Slightly Obvious in the Short-Term Manganese Market

SHANGHAI, May 18(SMM)-The average spot price of domestic EMM in the major producing areas stabilized at 14,950-15,150 yuan/mt yesterday, and FOB was falt at $2,300-2,400/mt from the average price of yesterday. Accoring to SMM, the domestic EMM inquiries were modest today. As the manganese prices have dropped to 15,000 yuan/mt, the number of inquiries in overseas markets has increased, and the suppliers were more willing to hold the prices firm. On the other hand, due to the safety and environmental protection of manganese mines in Hunan and other regions, the ore prices rose to about 1,400 yuan/mt. In addition, with the increasing cost, the manganese plants of non-own mines were in losses. SMM believes that the short-term EMM market prices may decline.