SMM EMM Price Forecast (Apr. 15-19, 2013)

SHANGHAI, Apr. 15 (SMM) – Electrolytic manganese metal (EMM) prices dropped in China last week, with some transactions concluded at even lower prices of RMB 13,000/mt, and further price declines are expected. Selenium dioxide producers have shown high intention of suspending production against anemic demand and depressed prices. Manganese carbonate ore prices generally held stable, offering only marginal support to EMM prices. China’s EMM exports grew significantly after export tariff on EMM was cancelled staring on January 1, 2013, but EMM prices remain weak. SMM expects EMM prices to fall to RMB 13,000/mt this week.