SHANGHAI, Jun. 11 (SMM) –
Manganese Ore Market:
Manganese ore prices at Chinese ports remained stable on June 15. Demand did not improve, while traders at ports held prices firm, leaving overall transactions quiet. Slight discounts are allowed for large purchase orders.
Manganese Alloy Market:
Bid prices for SiMn alloy from steel plants slid slightly. Traded prices were low despite tight supply. SiMn producers mostly fulfilled term contracts. Output at some SiMn producers has almost been sold out. Only a few producers holding back goods have inventories on hand. Spot trading muted.
EMM was largely offered at RMB 10,850-10,950/mt on June 15. Traded prices for EMM were mixed, with trading at the high-end of price range muted, which was of high-quality. Some producers raised prices.
Some EMM producers reported weakening orders at higher prices, which in turn weighing on prices. Some traders believe EMM prices have risen much more significantly than expected, while export prices lack ability to rise, biting into profit. When combined with long period needed for stock replenishing, most of them took a wait and see attitude.