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[Minor metal] Manganese Prices Rebound Slightly
SHANGHAI, Aug. 6 (SMM) -- Traded prices for refined manganese rebounded to RMB 14,000/mt today after prices fell slightly to RMB 13,900/mt.
Factories kept offers firm, but downstream purchasing interest was low, leaving quiet market.
Current refined manganese prices moved up for several reasons. First, production costs increased significantly compared to July, as prices of sulfuric acid and manganese ore rose as well. Second, rising stainless steel prices provide the upward room for refined manganese prices. Third, downstream demand remained stable and market inventories were limited.
In summary, SMM believes refined manganese prices will fluctuate above RMB 14,000/mt for foreseeable future, and future prices for refined manganese will depend on market sentiment and price trends in industrial chain. Market fundamentals remained stable.
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