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[Minor metal] CBI Forecast - Domestic Manganese Market
SHANGHAI, July 17 (CBI China) -- CBI believes the expectation over tightness of market supply remains a major factor for manganese prices. Currently, domestic market remains in balance. Operating rates at domestic stainless steel mills remained stable, leading to stable demand fro refined manganese; the hidden inventories declined at factories due to large-scale production cuts. In addition, factories were reluctant to move cargos due to expectations over tightness of manganese ore supply.
Next week, refined manganese prices will remain stable, with high possibility of moving above RMB 13,000/mt.
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