[Minor metal] Refined Manganese Prices up Further Upon Tight Spot Supply

SHANGHAI, July 22 (CBI China) -- Refined manganese supply was tight in domestic spot market, driving up market prices further. Current mainstream ex-works prices are about RMB 13,500/mt.

    A factory in Hunan said: "factories were unwilling to sell goods, leading to limited supply in the market. We have signed some orders previously at RMB 13,300/mt. However, goods are unavailable at such price at present."

    Current operating rates at factories in Guangxi province increased, but manganese ore supply remained tight.

    A factory in Guangxi said their July orders have been fully arranged, and they intended to start another production line. The downstream demand has recovered slightly, but the tightness of manganese ore supply failed to be eased, so it is reasonable that refined manganese prices are moving upward.

    According to CBI sources, traders offer more than RMB 14,000/mt for spot goods in Shanghai region, with limited inventories.

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