SHANGHAI, Nov. 10 (SMM) -- Today, mainstream offers for refined manganese are RMB 13,000-13,100/mt, and refined manganese producers kept their offers firm due to increasing inquiries.
Traders began replenishing stocks limitedly given slight recovery in manganese prices. A trader in Dainan said most traders generally held zero inventories in order to minimize market risk, so they replenished stocks limitedly upon market expectation of price increase despite of no substantial improvement in downstream demand. However, they will not purchase if manganese prices advance further.
According to SMM sources, alloy producers and downstream stainless steel mills reported no significant increases in purchases currently, so the recovery of manganese prices will depend on the improvement in market demand.
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