[Minor metal] Refined Manganese Price Continues to Rise

SHANGHAI, Apr. 21 (CBI China) -- Today, domestic refined manganese price continued to rise, with ex-works price up to RMB 13,200-13,300/mt from yesterday level of RMB 13,000/mt.

    Sources report that the trade volumes declined along with the rising refined manganese price. In addition, some producers promoted sales in downstream stainless steel factories, indicating the producers, dealers and consumers were pessimistic about the refined manganese market outlook. A factory said recent increases in nickel price, stainless steel price and refined manganese price lacked support from actual demand, so the upward room will be limited for the prices.

    In addition, the cost price of refined manganese ore stabilized, and the price for sulfuric acid and selenium dioxide increases slightly. The cost price of refined manganese in Huahuan and Xiushan regions remained in the RMB 12,200-12,800/mt range.

    CBI believes there will be thin possibility for refined manganese price to up to test RMB 14,000/mt. The ex-works traded price will stabilize in the RMB 13,000-13,500/mt range before Labor Day. Attentions should be paid to the changes in stainless steel sentiment and the changes in operating rates of domestic refined manganese.

Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040