Domestic Manganese Prices Rise Slightly

Today, mainstream offers of EMM were in the RMB 14,100-14,300/mt range. Domestic EMM prices climbed slightly due to purchase from traders and positive news that downstream steel mills will invite bids.

It was reported, EMM prices declined slightly over past week, and the number of traders who made purchase at low prices increased significantly as EMM prices fell to the low levels in the RMB 13,900-14,000/mt range. Trading volumes began to grow in EMM market and EMM prices ceased to decline and stayed stable temporarily on upward track. According to SMM sources, traders from Ningbo, Dainan other regions had replenished massive stock over last week, so trading volumes may lower this week.

It was reported that steel mills have already began to invite bids this week gradually, so manganese producers' interests in holding goods for better prices increased along with this new round of purchase volumes. Meanwhile, nickel prices kept on rising. Manganese market is encouraged by the expectation that stainless steel industry will be bright in the future.

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