The Manganese Market’s Operating Rates Stabilised amid the Slight Differences in Demand

SHANGHAI, May 17(SMM)-The average spot price of domestic EMM in the major producing areas declined slightly to 14,950-15,150 yuan/mt over the average price of Monday, and FOB was temporarily stable around $2,300-2,400/mt compared with the average price of Monday.
At present, in mid-May, the operating rates of EMM plants across the country was relatively low due to environmental protection factors of mines in Hunan and surrounding areas. The overall supply of EMM in Ningxia, Guizhou and other regions remained stable, with operating rates ranging from 65% to 75%. Although the procurement demand of major 200 series steel companies was released in May, SMM believes that the wait-and-see sentiment still need to be held to overseas transactions. Due to the oversupply, manganese prices were bearish. As a result, overseas inquiries and transactions were slightly sluggish. It is expected that the manganese market will decline in the second half of the week.