[Minor metal] Refined Manganese Prices Expected to Fall Further

SHANGHAI, Oct. 14 (SMM) -- Today, mainstream offers for refined manganese are RMB 12,900-13,100/mt, manganese prices remained in downward track, and more manganese firms planed to suspend production.

    Sources report that dozens of manganese producers have halted production in Xiushan, Chongqing city, and Jingxi, Guangxi province due to recent environment inspections; at present, more and more manganese producers planed to stop production given lower traded prices than cost prices amid sluggish manganese market conditions. According to SMM surveys of 100 manganese producers, 10% of producers have halted production; 10% of producers planed to suspend production; the remaining 80% of producers kept operating rates at 50-100%.

    SMM believes although more manganese firms stopped production recently, market supply remained relatively sufficient in view of high operating rates at online manganese producers. In this context, manganese prices are expected to fall further given weak downstream demand and lackluster trading activities. Selected market players predict refined manganese prices will likely stabilize around RMB 12,500/mt. 

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