[Minor metal] Manganese Prices Lack Upward Momentum

Dec 7, 2009 13:16

Source:SMM

SHANGHAI, Nov. 11 (SMM) -- Mainstream offers for refined manganese are RMB 13,100/mt today, with limited offers at RMB 13,200/mt.

Traders purchased limitedly for stock replenishment, helping support manganese prices to grow slightly. According to SMM sources, limited alloy producers were purchasing manganese, but most alloy producers reduced purchase volumes. An alloy producer in Hunan province said they have completed purchases when refined manganese prices were RMB 13,000/mt, and only limited volumes of manganese are needed currently. However, traders withdrawn from the market gradually after limited stock replenishment in view of weak downstream demand.

SMM believes manganese prices lack upward momentum, since the trading volumes were decreasing gradually.

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[Minor metal] Manganese Prices Lack Upward Momentum

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