China's Lead Scandals to Spur Industry Mergers, Macquarie Says

SHANGHAI, Aug. 26 (SMM) -- Today, actual traded prices were RMB 14,100/mt for refined manganese, with limited trading volumes.
&nbsp;&nbsp;&nbsp; According to SMM sources, only producers who had cash flow problems due to electricity fee and other expenditure, or had relatively sufficient inventories were willing to move cargos, and other producers still held a wait-and-see attitude. A factory with capacity of 20kt in Hunan said total costs for 1mt of refined manganese were RMB 14,000/mt, so they will not sell goods if prices continue to move downward.
&nbsp;&nbsp;&nbsp; Traders in Ningbo and Dainan said purchasing prices were RMB 13,900/mt in Hunan province, with limited purchasing volumes. However, a trader in Ningbo said most traders will begin purchasing only after prices fall to RMB 13,500/mt.
&nbsp;&nbsp;&nbsp; According to stainless steel enterprises, although recent demand for stainless steel decreased compared to June and July, downstream demand still existed. A stainless steel mill said they maintained normal purchasing volumes at RMB 14,000/mt.
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