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As the stainless steel price plunged, the buyers adopted wait-and-see attitude to purchase of refined manganese, and the market transactions became slim obviously.
A trader in Ningbo said: “the price will likely to fall sharply after surge, so we will take wait-and-see attitude. Ex-works price for refined manganese was still high, but the downstream stainless steel factories became unwilling to accept high price.”
Some factories in Hunan province began promoting sales, and the prices fell obviously compared to yesterday. Environmental protection inspection came to an end in Huahuan region, so the increasing capacity will also exert negative impact on the price. CBI believes refined manganese price will likely to fall back.
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