SHANGHAI, Jan. 9 (CBI China) -- The demand of large stainless steel plants remained stable, and no sign of decline in purchase; some producers without ore source were reluctant to sell due to limited ore supply, so sell-off is unlikely to happen in the near future. As Spring Festival holiday approaches, some refined manganese factories were closed for holiday, and the supply was on a downward trend; however, in Ningbo Dainan region, small stainless steel plants will suspend production gradually. In this context, the prices will remain stable in the near future.
The market trend was easy to be affected by speculative factors in the situation of balance of supply and demand, so the competition between the producers and the speculators remained a main factor behind short-term price movements. If the producers stick to their offer, the prices may increase slightly; if the producers make concessions, the prices may decline slightly. But the fluctuations will be small due to the stability of the fundamentals.
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