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[Minor metal] Refined Manganese Prices Advance Increasingly
SHANGHAI, July 27 (CBI China) -- Domestic refined manganese prices continued to rise, with offers in RMB 13,800-14,000/mt today.
Sources report that the strong demand and rising costs drove up prices. Most of steelmakers purchased at the end of July, and some steel mills purchased once a month instead of twice a month, which led to increasing demand for manganese ingots and refined manganese flake. Prices for manganese carbonate ore, sulfuric acid and selenium dioxide moved up, driving up total costs of refined manganese by RMB 600-700/mt, which also help push up refined manganese prices. Current mainstream cost prices were RMB 13,000/mt.
CBI believes refined manganese prices showed a strong performance recently, and are expected to break the resistance level of RMB 14,000/mt during this week.
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