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[Minor metal] CBI Forecast - Manganese Market
SHANGHAI, June 26 (CBI China) -- Oversupply remained unchanged in spot market, leaving possibility manganese price will fall further.
The consumption in downstream stainless steel sector became worse, but the stainless steel trend remained uncertain. The average cost price for domestic refined manganese was around RMB 12,500/mt, higher than selling price. In this context, refined manganese factories will cut production gradually, and even suspend production, which will be positive to the market balance.
Refined manganese price will fluctuate around RMB 12,500/mt next week.
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