SMM Survey of Traders’ Opinions On Manganese Ore Prices in March

Market players take mixed views over price trends of imported manganese ore in March, but the bearish sentiment has prevailed. 15% of the market players are bullish on the prices in March, most of whom have high inventories and cost. They have incurred losses due to price drops.

32% said they are pessimistic, thinking that the current downstream demand is weak, and continuous price cuts would hardly promote a large number of transactions. Therefore, they are unwilling to cut prices. However, manganese alloy factories have refrained from accepting high prices, so prices may resist both gains and declines.

36% are bearish on the future prices. At present, the port inventory is relatively sufficient, and the subsequent arrivals will continue. Given ample market supply, the prices may face downward pressure. The remaining 17% are unsure about the future price trend.