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Nanjing Iron & Steel lowers manganese purchasing volume for Aug
Jul 24,2019 15:38CST
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Source:SMM
Market participants expected the purchasing prices to continue to fall by some 100 yuan/mt in the Aug tenders

SHANGHAI, Jul 24 (SMM) – Nanjing Iron & Steel (NISCO) in Jiangsu province has launched its August tender for manganese ingot, with a procurement volume of 1,800 mt, down 200 mt from July’s tender, SMM learned on Wednesday July 24. 

NISCO set its purchasing prices at 14,400 yuan/mt for July, down 100 yuan/mt from that for June. 

Market participants expected the purchasing prices to continue to fall by some 100 yuan/mt in the August tenders, as spot prices limitedly supported by current supply-demand fundamentals. 

Consumption was weak from the downstream stainless steel markets in Wuxi and Foshan, as prices of #200 series retreated on Wednesday, after they nudged up by 50-100 yuan/mt in previous trades, SMM assessed. 

Market commentary
Manganese

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