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[Minor metal] Refined Manganese Prices Stabilize with Possibility of Decline
SHANGHAI, July 30 (SMM) -- Domestic ex-works prices for refined manganese stabilized in the RMB 14,100-14,300/mt range.
Sources report that transactions were brisk in the market. Although downstream demand, especially the demand from stainless steel sector was weak, the purchasing volume of traders helped support market prices. Domestic refined manganese factories were reluctant to sell.
SMM believes refined manganese prices have possibility of decline, as current price is the highest price the consumers and traders can accept. However, any downward room will be limited due to solid support from costs and market confidence. Manganese prices will likely fall to RMB 13,800/mt at most.
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