SHANGHAI, Jan 16 (SMM)－ Manganese prices are likely to stay supported as spot supply remained tight following the production cuts of major plants in north China at the end of December.
Offers were heard at 11,800-12,000 yuan/mt as of Monday January 15, with sellers reluctant to make compromises on prices amid more enquiries, SMM learned.
While some plants have gradually resumed their operations, spot supply remained limited.
Large plants in Ningxia province are mainly focused on executing long-term contracts with little material available for the spot market. Plants in Xinjiang, on the other hand, are only expected to resume operations after Chinese New Year, SMM learned.
In Guizhou, output has been unstable due to power rationing measures. Some companies were forced to cut or shut production as the situation may continue till Chinese New Year.
Manganese ore mines in Huayuan in Hunan were still in suspensions and such shortage of raw materials left plants in the region with lower output.
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