SHANGHAI, Jan. 7 (CBI China) -- Domestic refined manganese price remained stable at RMB 14,000/mt, manufacturers offered high, the buyers were pessimistic about the market outlook and the spot transactions were slim.
A factory in Chongqing said: "Now the spot goods are fewer, most factories have received orders, and our ex-works prices were RMB 14300/mt.” He was not very optimistic about the market outlook, and the prices may not fall due to high cost of the ores.
Another factory in Guangxi said in Jingxi region manganese was still restricted. “We now can only maintain normal production of one line with the price at RMB 14500/mt.”
A trader in Ningbo said: "we will not purchase with the price above RMB 14,000/mt, for the risk is too great, the downstream steel mills will not accept it." He believes that prices will drop slightly next week. "On the one hand after manganese factories complete their orders, the spot goods will increase; on the other hand, small-scale stainless steel manufacturers will suspend production next week, causing declines in the demand."
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