SHANGHAI, Dec. 29 (CBI China) -- As refined manganese prices fell to RMB 13,000/mt last week, the orders during weekend increased, leading limited spot supply and prices increases. The prices at most manufacturers increased to RMB 13300-13500/mt this week.
A factory in Hunan said, "We do not have the spot goods with the prices at above RMB 13000/mt. Ferroalloy prices rise which beyond everyone's expectations, for last week a lot of people believed the prices would fell."
Another factory in Chongqing said that the recent orders are relatively stable, and they have produced based on demand, and the downstream demand is also stable, and purchases before the Chinese New Year may be the main reason for the rise.
A trader in Ningbo said, "The inventories of brokers and downstream are at relatively low levels, and they purchase based on demand. We may wait and see for this price rebound and are uncertain about the degree of the prices rise."
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