SHANGHAI, Nov 26 (SMM) -The average EMM prices across the three major EMM producing (Songtao in Guizhou, Huayuan in Hunan, and Xiushan in Chongqing) and Guangxi stood at 40,000-40,500 yuan/mt last week, down 1,250 yuan/mt from a week ago.
EMM and manganese products exports totalled 26,700 mt in October, down 22.3% on the month. The restocking volume by mills in October-November trends lower. Although mills in some regions reduced or suspended production in November, EMM prices declined to 40,000 yuan/mt amid sluggish demand. The negotiation price has been lowered to 39,000-40,000 yuan/mt by traders in Jiangsu and Zhejiang. The willingness to make transactions thinned in the second half of last week. Some traders were willing to trade at low prices. The export inquiries were muted while the quotation from domestic receipt ports was as low as $6,200-6,300/mt. But end-users held a wait-and-see outlook amid falling prices.
Ningxia planned to implement staggered production at the end of the year when local plants are likely to suspend production. The output in December is expected to decline.
