[Minor metal] Further Gains in Refined Manganese Prices Will Depend on Actual Transactions

SHANGHAI, Nov. 19 (SMM) -- Today, mainstream offers for refined manganese are RMB 13,200-13,400/mt, and the higher offers increased trader wait-and-see sentiment, and any further gains in manganese prices will depend on actual transactions.

    A trader in Ningbo said most manganese producers offered price at RMB 13,300-13,400/mt, with only limited low-priced goods at RMB 13,200/mt in the market. However, traders remained cautious given no significant improvement in downstream demand, standing out of market.

    A portion of stainless steel mills replenished stocks constantly upon their concerns over further gains in manganese prices, and some stainless steel mills in Ningbo have increased purchase volumes significantly recently. In addition, alloy producers also increased purchase volume last week, and continued to restock limitedly this week.

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