[Minor metal] Domestic Manganese Prices Slip Slightly

SHANGHAI, Oct. 29 (SMM) -- Today, mainstream traded prices for refined manganese were RMB 13,100/mt, and trading volumes declined, and refined manganese prices dropped slightly as well.

    Manganese producers were reluctant to sell goods given higher costs. Most manganese producers said they will not move goods if manganese prices continue to fall and most traders also said manganese prices may dip further due to current weak demand, so they preferred to stand on the sidelines.

    SMM believes manganese prices will likely fluctuate in the RMB 13,000-13,100/mt range in the short term supported by the reluctance by manganese producer to move goods, but market prices will be determined by market demand eventually. Special attention should be paid to the purchasing activities by downstream stainless steel mills and alloy producers in the near future.

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