The Demand has Released before the Holiday and the Game in the Manganese was Obvious [SMM Daily Comment]

SHANGHAI, APR 28 (SMM) - The average spot prices in Guangxi decreased slightly by 50 yuan/mt compared with yesterday to 15,850 yuan/mt, and the overall spot in other regions was still low compared with yesterday. In addition, before the holiday, FOB will remain stable at about $2,500/mt. SMM understands that some downstream terminal steel enterprises made manganese procurement in advance before the May Day holiday. Among them, the trading of manganese products was operating at a low range of 16,400 yuan/mt. At present, the procurement performance has improved, and the supply side had obvious willingness to hold the price firm. However, the upward trend of manganese prices in the future may still lack a lot of demand drive. Therefore, it is expected that the manganese prices before the holiday will be low.

[Disclaimer: The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.]