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Manganese Prices Continued to Fall due to Weak Demand

iconAug 11, 2022 14:10
Source:SMM
The average spot price of EMM in the main producing areas was 14,500-14,800 yuan/mt, flat from yesterday. The FOB prices stabilised at $2,200-2,250/mt.

SHANGHAI, Aug 11 (SMM) - The average spot price of EMM in the main producing areas was 14,500-14,800 yuan/mt, flat from yesterday. The FOB prices stabilised at $2,200-2,250/mt. According to SMM research, affected by the weak demand from stainless steel sector, manganese prices fell slightly. Although the mainstream quotations remained at 14,500 yuan/mt, some goods were quoted at 14,200 yuan/mt in the market. Meanwhile, the purchasing prices of some steel mills stood at 14,600 yuan/mt (by acceptance, delivered to factory), which indicates that some steel mills still tended to force down the prices. Overall, although EMM plants reduced the production and the prices stopped falling in the short term, EMM prices fell again due to the oversupply.

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