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[Minor metal] Forecast of Domestic Manganese Market Next Week
SHANGHAI, Apr. 3 (CBI China) -- The transactions were very scarce in domestic market this week due to weak domestic demand, and the trading price of refined manganese remained in the RMB 12,300-12,500/mt range. The price of stainless steel is likely to fall further, and the stainless steel mills are expected to cut productions further, leading to weaker demand for refined manganese. The cost of ore remained in the RMB 12,500-13,000/mt range, and the operating rates in Hunan and Chongqing are likely to reduce further. However, supply and demand will remain in balance in view of falling demand and falling supply. The refined manganese price is likely to fall, but with limited downward room due to cost support.
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