SHANGHAI. Jan. 19 -- EMM prices were on upward track since the end of last week, which was mainly attributed to robust demand from China's steel mills. Ex warehouse of manganese flake (99.7%) in Europe rose from the range of USD 2,650-2,750/mt to current range of USD 2,700-2,900/mt. Prices of minor metals rose to the highest level since September of 2009.
It was reported that Asian purchasers not only made buying for February but also made buying for March. The increased Asian appetite for manganese flake has reduced the material coming into Rotterdam. Some traders told "I am bullish, so I reckon we could go another USD 100/mt from here."
It is worth noting that demand from European steelmakers is still low, and it still takes time for demand in European market to recover.
Copyright © SMM. All Rights Reserved
None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: firstname.lastname@example.org