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[Minor metal] CBI Forecast - Refined Manganese Market
SHANGHAI, June 19 (CBI China) -- 200# stainless steel demand increased steadily, as large 200# stainless steel factories have signed July orders; in addition, as prices of scrap steel and high-carbon ferrochrome climbed, stainless steel prices are expected to rise as well. Demand for refined manganese will remain strong.
However, oversupply still existed in current market. If manganese prices advance to RMB 13,000/mt, a portion of high-cost idled factories will resume production, which will exert greater supply pressure on the market; besides, most of large stainless steel factories held refined manganese inventories for half a month to one month production, leaving greater difficulties for price rise.
The ex-works price of refined manganese will fluctuate in the RMB 12,800-13,200/mt range next week.
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