[Minor metal] Weekly Review - Refined Manganese Market

SHANGHAI, Sept. 4 (SMM) -- Domestic offers for refined manganese continued to climb during this week, with mainstream offers up slowly to RMB 14,400/mt today from Monday’s level of RMB 14,200/mt. However, according traders and downstream manufacturers, traded prices for refined manganese remained in the RMB 14,200-14,300/mt range during this week, with very limited trading volume at RMB 14,400/mt.

    Manganese producers kept their offers firm due to high costs of raw materials and low inventory. In the mean time, the bids from steel mills in early this month and regular purchases from ferroalloy producers also helped improve the optimistic sentiment of manganese producers with regard to future prices.

    As to downstream demand, some stainless steel mills only purchased based on daily production needs, while others have not  purchased yet; purchasing volumes from ferroalloy producers grew gradually, but still down slightly on a monthly basis; small traders in Ningbo and Dainan regions were cautious about purchases in view of weakening downstream demand.

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