[Minor metal] Domestic Refined Manganese Prices Fluctuate at Low Levels

SHANGHAI, Nov. 2 (SMM) -- Today, mainstream offers for refined manganese were RMB 13,000-13,100/mt, while mainstream traded prices were RMB 13,000/mt during weekend. Refined manganese prices fluctuated at low levels amid weary demand.

    Guangxi government has raised electricity prices, and most local manganese producers were reluctant to move goods given high production costs. An official from a manganese producer in Guangxi province said Guangxi government has raised electricity prices to the range of RMB 0.54-0.59/kWh. In this context, total production costs have reached RMB 13,200-13,500/mt, which were much higher than current market prices. The electricity prices were RMB 0.51-0.53/kWh in Hunan province and RMB 0.46/kWh in Xiushan region.

    The wait-and-see attitude dominated the traders in Ningbo and Dainan regions. A trader in Ningbo city said they will stand on the sidelines, since downstream demand remained sluggish and manganese prices failed to stabilize currently.

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