[Minor metal] Refined Manganese Prices Slide

SHANGHAI, June 22 (CBI China) -- Domestic price of refined manganese fell, with traded price in the RMB 13,000-13,100/mt range.

    As the downstream steel mills have finished their stock buildup, and operating rates at refined manganese factories increased, leading to increasing spot supply in the market and falling manganese prices. Traders’ sentiment will likely exert greater pressure on manganese price outlook.

    A factory in Chongqing said manganese prices will stabilize at RMB 13,000/mt given current higher raw material prices.

    A factory in Guangxi said they conducted operation based on orders due to uncertainties in the price in an attempt to minimize the inventories.

    Some traders revealed that some deals were made below RMB 13,000/mt. Manganese prices will likely fall further, as the downstream steelmakers have finished stock replenishment. 

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