[Minor metal] Domestic Manganese Market Remains Bearish

SHANGHAI, Sept. 28 (SMM) -- Today, mainstream offers for refined manganese were RMB 13,500-13,600/mt, and only a small number of manganese producers with cash flow problems moved goods, while most manganese producers were reluctant to sell goods at lower prices.

    A portion of manganese producers planed to suspend production during China’s National Day holiday due to higher production costs than market prices, and they moved cargos limitedly at present in order to solve capital problems; a number of manganese producers maintained production but with very low sentiment in selling goods at lower prices, and most of them said they would like to stop production if manganese prices continue to move lower after holiday.

    According to SMM survey of traders in Ningbo and Jishou cities, most traders said they had no purchase plans. A trader in Jishou said there will be downward room for manganese prices in view of ample market supply and sluggish downward demand.

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