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[Minor metal] A Reluctance by Domestic Manganese Producers to Sell Goods Emerges

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SHANGHAI, Oct. 26 (SMM) -- Today, mainstream offers for refined manganese are RMB 13,200-13,300/mt, and manganese producers were reluctant to move cargo, while traders stood on the sidelines as well.
&nbsp;&nbsp;&nbsp; Most manganese producers were reluctant to move goods in anticipation of price rise due to positive macro economic data and bullish market sentiment of stainless steel cold-rolled products. A large manganese producer in Hunan province said market insiders predict manganese prices may climb to RMB 13,500/mt, generating a reluctance by manganese producers to move goods.
&nbsp;&nbsp;&nbsp; SMM also contacted a number of traders in Ningbo and Dainan regions. A trader in Dainan said manganese prices have grown by RMB 200/mt from last Friday to this Monday. They will adopt a wait-and-see attitude towards price hike given no substantial improvement in stainless steel market sentiment.
&nbsp;&nbsp;&nbsp; SMM believes positive macro economic conditions will help push up manganese prices mildly, but current sluggish stainless steel sentiment will limit any upward movement for manganese prices.
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