SHANGHAI, Nov. 4 (SMM) –
Demand from steel producers picked up at the end of October, while operating rates at electrolytic manganese metal (EMM) producers remained little changed, tightening EMM supply. Tighter supply pushed EMM prices up slightly to RMB 12,700-12,800/mt last week.
Baosteel will announce its tender prices for EMM this week, which are expected to remain flat. Demand will improve since some steel producers will begin to buy EMM after Baosteel announces its tender price, but the growth in demand will be limited. Meanwhile, supply will not grow appreciably, so EMM prices are expected to remain around RMB 12,800/mt this coming week.