SMM EMM Weekly Price Review and Forecast (Dec. 23-27, 2013)

SHANGHAI, Dec. 23 (SMM) – Electrolytic manganese metal (EMM) was largely traded at RMB 12,850-12,900/mt in China’s spot market last week, up RMB 100/mt from a week ago. The price rise was, in large part, due to market speculation rather than a pickup in demand. Sulfuric acid prices inched up, but little was passed through to EMM prices.

Some EMM producers believe EMM prices may rise to RMB 13,000/mt this coming week. Downstream producers, however, hold divergent views. Traders will refrain from buying at highs. SMM expects EMM prices to remain little changed.