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[Minor metal] Refined Manganese Prices Continue to Grow Rapidly
SHANGHAI, Aug. 10 (SMM) -- Domestic prices of refined manganese grew rapidly to RMB 14,800-15,000/mt today.
SMM believes the price hike is attributed to stronger demand from ferroalloy sector and stable demand from stainless steel sector. In addition, speculative activities also have positive impact on refined manganese price rise.
Sources report that traders and selected downstream consumers became cautious about purchases of refined manganese at current prices. Besides, most refined manganese factories were reluctant to sell goods. Struggles between suppliers and buyers are expected to be intense on the market. Market insiders said there is high possibility refined manganese prices will plummet, if prices continue to grow rapidly.
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