[Minor metal] Domestic Offers for Cobalt Products Up Further

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.
&nbsp;&nbsp;&nbsp; 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.
&nbsp;&nbsp;&nbsp; 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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