SHANGHAI, Jan. 6 (SMM) -- Today, mainstream offers of EMM were around RMB 14,600/mt. Trading volumes were moderate and domestic manganese prices advanced stably.
It was reported, purchasing volumes from downstream consumers were relatively moderate. According to a trader in Dainan, daily purchasing volumes for stock replenishment were in the 35-60 mt range, and the trader would not expand purchasing volumes in order to control risks, since downstream stainless steel market was still sluggish. According to SMM, most traders in Ningbo and Dainan adopted the same attitude.
It was also reported that most stainless steel producers will be on Chinese New Year holiday for 20-30 days, so the possibility for large amount of stock replenishment from stainless steel mills before the Chinese New Year holiday will be low. Large amount of trading volumes are not expected to occur in manganese market before the Chinese New Year holiday.
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