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[Minor metal] Refined Manganese Prices Continue to Rise
SHANGHAI, June 15 (CBI China) -- Domestic refined manganese prices continued to rise to RMB 13,200/mt from previous level of RMB 13,000/mt.
It is reported refined manganese kept rising for two reasons: 1. ore supply was a little tight in Hunyuan region, leading to slight rise in ore price, even with a sign of further rise; 2. prices of nickel, stainless steel and imported manganese oxide inched up, exerting positive impact on refined manganese prices.
CBI believes any upward room for refined manganese price will be limited in view of current weak demand, with next possible resistant level of RMB 13,500/mt.
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