SHANGHAI, June 30 (CBI China) -- Domestic refined manganese prices rebounded this week, with the mainstream traded price at RMB 12,800/mt. Manganese prices are expected to rise further given the recovery of market sentiment.
A factory in Hunan province said: “Deals were made in the RMB 12,500-12,600/mt range last weekend, with a number of buyers, and nearly 1kt of spot manganese have been consumed in Hunan market.” He believes these will be further upward room for the price, as large steel mills will begin purchasing recently, which will likely help support manganese prices.
A factory in Chongqing said their recent traded price was RMB 12,800/mt. The spot offers will be a little higher due to plenty orders. Most of factories conducted production based on sales in an attempt to minimize risks, leading to limited supply in spot market.
Consuming factories in Ningbo and Dainan regions believe the market demand reported no marked improvement, restricting the upward momentum for the price, so manganese price will not be high.
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