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[Minor metal] Manganese Prices Break Through RMB 15,000/mt
SHANGHAI, Aug. 11 (SMM) -- Mainstream traded prices for refined manganese have broken through RMB 15,000/mt in domestic market. Factories continued to raise prices, but downstream consumers purchased limitedly. At present, the highest ex-works prices reached RMB 15,500/mt, but actual traded prices remained around RMB 15,100/mt.
Most factories have limited inventories, and said the rising costs of sulfuric acid and manganese ore will support refined manganese prices. However, the downstream stainless steel mills reduced purchases, since stainless steel prices ended the upward trend after slight rise.
SMM believes currently raw material costs and the demand from ferroalloy help support refined manganese prices. Besides, the recovery of overseas markets also exerts positive impact on manganese prices. However, operating rates at manganese factories remain high, and traders have inventories in hand, so manganese prices will likely fall rapidly after continuous surges.
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