SHANGHAI, Dec. 2 (CBI China)-- Domestic refined manganese prices continue to rise slightly, with the current traded prices of around RMB 12,500/mt.
It is reported that due to the recent increase in operation rate of common steel and the stability of stainless steel market, manufacturers had profits of 200-300 /mt. Procurement of ferromanganese, manganese ingot and electrolytic manganese increased. In addition, operation rate of electrolytic manganese was increased, and most manufacturers had no pressure on the stock, so the price had obvious sign of rising. The downstream demand and relatively tight in spot supply makes electrolytic manganese prices remained stable with slight rise.
CBI predicts electrolytic manganese prices will continue to rise slightly, with good price in the short term; However, there has been no fundamental improvement in demand, with the increasing operation of the manufacturers, supply in spot market will be more and more, so medium and long-term market price may fall.
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