SHANGHAI, July 26 (SMM) -- Mainstream offers of EMM were between RMB 15,000-15,100/mt on Monday. Manganese ore mines were shut down for a month due to impact from mining flood, and operating rate at EMM producers is expected to fall further from tight raw material supply, leading to increased reluctance to move goods by producers.
According to SMM survey, ore mines in Huayuan regions are all shut down and local EMM producers told that the previously ordered ore powder can not be delivered. Supply of ore powder is expected to be tight due to at least half a month or a month's ore mine shut down, which may further drag down operating rates at EMM producers. In this context, supply of EMM will reduce further in the market.
According to SMM sources, some trader had already made some replenishment last week due to concern that EMM prices will rise further, and the increased transactions lend support for EMM prices to advance further. However, some traders still remain cautious and adopted a wait-and-see attitude, and only made limited purchases due to concern that downstream demand has not improve significantly.
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