[Minor metal] Refined Manganese Prices Grow Slightly

SHANGHAI, Sept. 3 (SMM) -- Today, refined manganese prices continued to grow, with mainstream offers in the RMB 14,400-14,500/mt range. Optimistic sentiment prevailed among market players, and a number of factories believe refined manganese prices will rise further in the short term.

    Manganese factories were optimistic about price outlook for four reasons.

    First, prices for raw materials including manganese ore, sulfuric acid and selenium dioxide will unlikely fall in the short term, and high costs will help support manganese prices.

    Second, factories have consumed the existing low-priced stocks, so most of them had no inventory pressure.

    Third, consumers will conduct regular purchases during early this month.

    Fourth, only two manganese factories are running at normal operating rates in Luxi region, and unit maintenance at other manganese factories will likely take more than one month, resulting in tight market supply and relatively firm offers.

    This week, refined manganese prices will continue to fluctuate in the RMB 14,400-14,500/mt range. However, SMM believes further upward movement for refined manganese will depend on the recovery of market demand.

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