[Minor metal] Manganese Prices Firm, Spot Supply Tight

SHANGHAI, July 23 (CBI China) -- Refined manganese prices continued to move up in domestic market, with mainstream ex-works prices around RMB 13,500/mt.

    The demand from downstream stainless steel industry remained stable, and they were unwilling to accept higher prices, so trading volumes declined slightly in Ningbo and Dainan regions.

    Local traders said factories were unwilling to move cargos, leading to tight spot supply in the market. in addition, speculative factor might be another reason for manganese prices to rise further.

    According to CBI sources, as prices of manganese ore and ferromanganese climbed, so the profit of low carbon ferromanganese produced during the production of refined manganese increased. In this context, if manganese ore prices continue to remain high, ferromanganese demand for refined manganese will increase as well, which will help support refined manganese to remain high.

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