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[Minor metal] SMM Forecast - Domestic Manganese Market

iconJul 31, 2009 00:00

SHANGHAI, July 31 (SMM) -- Hot money from ore industry flowed into market in view of ample cash liquidity and inflation. At present, refined manganese industrial chain was not determined by market fundamentals, but by macro economy and market confidence instead. Although the end user demand was weak, transactions in both common carbon steel and stainless steel markets remained brisk, and their prices continued to move up as well. August orders from stainless steel mills were unchanged compared to July levels. The market demand helped support refined manganese prices.

    Currently, cost prices have risen to RMB 13,000/mt, and raw material prices remain a sign of further rise, which will also help support refined manganese prices. Meanwhile, factories’ unwillingness to sell also remains a factor to push up manganese prices.

 

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