[Minor metal] Lackluster Trading Activity in Manganese Market During National Day Holiday

SHANGHAI, Oct. 9 (SMM) -- Today, mainstream offers for refined manganese were RMB 13,000-13,300/mt, and transactions were limited during week-long holiday.

    Sources report that most manganese factories said costs remained high upon tightening supply of manganese ore powder. A person in charge in a manganese factory in Hunan province said most mines stopped production and sold their existing inventories from September 20th to October 10th due to transportation control and forbidden explosives. Prices for manganese ore powder (16%) were RMB 750/mt in west Hunan province, but the actual grade was only 15%, so the volume of ore powder needed for per ton refined manganese has risen to 8.5-8.7mt, leaving costs for ore powder to nearly RMB 6,000/mt. The high ore powder costs have resulted in total costs for refined manganese above RMB 13,000/mt.

    In the mean time, the incident occurred at the No.2 shaft of the south mine of Hsikwangshan Twinkling Star Antimony Co., Ltd. has not exerted negative impact on manganese factories, but the Hunan government announced to implement security inspection, which will likely result in the tightness of manganese ore supply.

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040