SHANGHAI, Nov. 13 (SMM) -- Demand: purchase volumes by alloy producers will be limited next week; stainless steel mills will purchase on as-needed basis due to sluggish market sentiment; traders will remain cautious about purchases amid weak market conditions.
Supply: manganese producers in Guangxi province will be reluctant to sell goods, as more manganese producers suspend production due to rising electricity prices and environmental protection inspections; although only limited producers halted production in Hunan, Chongqing and Guizhou regions, most manganese producers have moved a portion of inventories previously and will not be eager to sell cargos in view of their existing long contracts.
In general, although downstream demand remained weak, the rising production costs and low inventories will limit the possibility of manganese prices to fall further. Refined manganese prices are expected to move in the RMB 13,000-13,500/mt range in the coming week.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: firstname.lastname@example.org or tel:86-21-51550040