SHANGHAI, Nov. 11 (SMM) –
Electrolytic manganese metal (EMM) prices in China nudged up RMB 200/mt to RMB 12,800-13,000/mt last week. Baosteel’s tender price for EMM rose by RMB 100/mt on a monthly basis, good news for EMM producers. Other steel producers also began to purchase EMM, pushing EMM prices up. Traders, however, built up only small amounts of stocks.
Many EMM producers who have completed delivery to buyers signing long-term purchase contracts will have more goods available for sale in spot market. Meanwhile, any growth in demand will be limited. As a consequence, EMM prices may fall back to RMB 12,800/mt this coming week. It is rumored that pollution crackdown will be launched in Xiushan, Chongqing, but the date and scale of crackdown are still uncertain, having little impact on the market.