Metals News
Domestic Manganese Prices Lower to RMB 14,700/mt
smm insight
11:23AM
Feb 2,2010
Source:SMM

SHANGHAI, Feb. 2 -- Mainstream offers of EMM were in the RMB 14,800-14,900/mt range today. Traded prices as low as RMB 14,700/mt were already heard in the market yesterday. As the Chinese New Year holiday is approaching, some producers with cash flow pressure sold part of their goods at low prices.

It was reported that current price levels were already lower than cost levels at producers without their own mines. Some large producers with flexible cash flow moved limited amount of goods, while some small producers with cash flow pressure had to move goods at low prices for cash. According to a person-in-charge in Xiushan of Chongqing, "Current price levels are already lower than our costs, and we prepare to be off on holiday earlier than before. We moved part of our inventories for the labor costs during the Chinese New Year holiday." According to SMM sources, most producers moved goods with low prices thought exactly the same as the above person.

It was reported that some stainless steel mills and traders still purchased goods in a small amount. Some traders told that, current market was sluggish and purchase volumes from stainless steel mills were very low. EMM prices may continue to fall and they told that they'd wait lower prices to make purchase.

To contact the writer on this report: jianghanmei@smm.cn

 

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: service.en@smm.cn

 

Manganese Cobalt Silicon Tin Bismuth
minor metal price
Mn Co Si Sn Bi
For queries, please contact Frank LIU at liuxiaolei@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
Related Price

No Data