Manganese Prices Dropped under Pressure at the End of April

SHANGHAI, Apr 29 (SMM) - On April 29, the average price of EMM in producing areas in China dropped by 150 yuan/mt to 15,600-15,800 yuan/mt compared with yesterday. Accordingly, the average price of FOB fell by $50/mt to around $2,450/mt. As of April 29, the average EMM price in China fell by 350 yuan/mt to around 15,650 yuan/mt. Except for the demand released by steel bidding at the end of the month, the overseas procurement was not optimistic. The terminal inquiry and procurement were cautious amid fluctuating manganese prices. SMM expects that the prices will be stable and weak at around 15,500 yuan/mt for plants that have the demand for restocking before the May Day holiday, and the prices will continue to be weak after the holiday.

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