SHANGHAI, Mar. 3 (SMM) – Electrolytic manganese metal (EMM) in China was largely quoted at RMB 12,550-12,650/mt last week. Traded prices fell toward the lower end of the price range later in the week, and three reasons were behind this. First, some suppliers discounted as liquidity crunch bit in at the month’s end. Second, stainless steel mills delayed bid invitations to buy EMM, dampening market sentiment. Third, traders were less active in making inquiries and pushed for lower prices.
SMM anticipates a RMB 50-100/mt decline in EMM prices this coming week due to growing supply and weak demand.