[Minor metal] Manganese Market Remains Neutral

SHANGHAI, Aug. 4 (SMM) -- Prices of refined manganese stabilized after fell slightly in domestic market, with traded prices moving in the RMB 13,900-14,100/mt range. Some factories kept their offers firm at RMB 14,000/mt given rising costs.

    A downstream trader said, “our deals were mainly made in the RMB 13,900-14,000/mt range recently, and factories remained their offers firm.” He also said the stable downstream demand failed to support manganese prices to rise further, so it is reasonable for manganese prices to move downward.

    A factory in Chongqing said they can only maintain normal production at current prices, as costs increased significantly.

    SMM believes there will be little possibility factories will reduce prices in view of limited inventories. However, downstream producers will not accept rising prices, so market will remain neutral. Manganese prices will unlikely move above the resistance level of RMB 14,000/mt during this week. Special attentions should be paid on the production at factories, costs, as well as changes in prices of downstream products.

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