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[Minor metal] Refined Manganese Prices Stabilize in Domestic Market
SHANGHAI, June 25 (CBI China) -- Refined manganese prices stabilized in domestic market after slight declines, with current traded price mainly in the RMB 12,800-12,900/mt range.
Supply surplus appeared in the market again after operating rates at refined manganese factories increased due to price hike during previous two weeks. The large spot inventories and low downstream buying interest dragged down refined manganese prices below RMB 13,000/mt rapidly this week.
A portion of buyers signed orders at RMB 12,800/mt, and costs also helped support the price remain stable.
A factory in Hunan province said market prices will likely fluctuate narrowly in the RMB 12,500-13,500/mt range. He also pointed out current market fundamentals reported no significant changes, and refined manganese price trend will depend on manganese ore costs and changes in downstream stainless steel markets.
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