SHANGHAI, Dec. 26 (CBI China) – This week refined manganese prices fell, and the dominant price fell to RMB 13000-13300/mt from RMB 14000/mt early this week, being in line with the expectations of some insiders. CBI believes that prices in early this week were reasonable, on the one hand, the traders sell at RMB 14500/mt; on the other hand, ferromanganese factories suspended to increase the inventory due to the rising risk. However, prices continued to go down to RMB 13,000/mt, which was mainly affected by the market expectations, for the attitude of "buying up, not buying "delivered pressure on the prices when the demand stabilized.
Next week will be the New Year holiday, due to steady demand and continuous production at steel mills, purchase is expected to continue; the traders will increase inventory slightly at psychological price, the market turnover is expected to be in the RMB 12500-13000/mt range. The cost prices of medium-size producers in manganese triangular area were RMB 12500/mt. Meanwhile, part of producers with the cost of RMB 12500-13200/mt will suspend production during the New Year holidays. The transactions will increase in the second week in January, particularly ferromanganese factory will increase their purchases, traders will cover positions, and the price is expected to rebound slightly.
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