[Minor metal] Domestic Prices for Refined Manganese Down Further

SHANGHAI, Aug. 25 (SMM) -- Today, transactions were weak in domestic refined manganese market, with offers in the RMB 14,000-14,100/mt range.

    A portion of refined manganese factories were reluctant to move cargo due to rising costs. A factory in Guizhou said prices for raw materials have grown significantly recently, with manganese ore prices at RMB 900-920/mt, sulfuric acid prices at RMB 550-570/kg, and selenium dioxide prices at RMB 450-460/kg. In addition, more raw materials will be used under hot weather conditions. For example, volumes of sulfuric acid increased to 2mt from 1.8mt and volumes of selenium dioxide increased to 1.6mt from 1.45mt for the production of 1mt refined manganese, leaving total cost of nearly RMB 14,000/mt.

    Another portion of refined manganese factories sold off limited inventories given increasing electricity expenditure by the end of this month, as well as increasing inventories.

    According to SMM sources, traders in Ningbo and Dainan regions believe refined manganese prices at RMB 13,500-14,000/mt would be acceptable, but they still held low purchasing interest. SMM believes market buying interest will be stimulated when refined manganese prices fall below RMB 14,000/mt. 

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