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[Minor metal] Refined Manganese Prices Continue to Rise Slightly
SHANGHAI, July 1 (CBI China) -- Domestic refined manganese prices continued to rise mildly to RMB 12,800-13,000/mt from yesterday level of RMB 12,700-12,900/mt, up RMB 100/mt.
Sources report that the market fundamentals showed no significant changes during this week. Although the costs of refined manganese and the demand from downstream stainless steel sector helped support manganese price, the continuous increases in the price were due mainly to speculative activities. CBI believes any upward room for refined manganese price will be limited due to weary demand, with RMB 13,000/mt as current resistance level.
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