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[Minor metal] Refined Manganese Prices Edge Down
SHANGHAI, Apr. 27 (CBI China) -- Domestic refined manganese prices continued to fall to current RMB 12,300-12,500/mt.
As the prices of stainless steel and nickel edged down, the downstream steel mills became unwilling to accept higher refined manganese prices, and specific factories said they were unwilling to purchase manganese at RMB 12,500/mt. Additionally, the downstream producers were pessimistic about the price outlook and intended to defer the purchase.
A factory in Chongqing said the actual transactions remained weak despite of ups and downs in the price of refined manganese. He also said the lowest prices have fallen to RMB 12,200/mt.
A trader in Dainan said the price falling to the range of RMB 12,000-12,500/mt was not surprising, as the market fundamental remained weak.
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