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[Minor metal] Manganese Prices May Face Slight Reductions
SHANGHAI, Oct. 28 (SMM) -- Today, mainstream offers for refined manganese are RMB 13,200-13,300/mt, and purchases by traders dropped gradually.
Traders reduced purchases significantly from today. According to traders in Ningbo and Dainan regions, their inventories were higher currently, but downstream demand remained weary, so they had no need to purchase. Traders in Hunan province have purchased a batch of goods at RMB 13,000/mt previously, resulting in limited buying interest recently.
SMM believes manganese prices may face slight reductions in the near term due to absence of actual demand along with decreasing purchases by traders.
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