Chinese electrolytic manganese market continues to decline

It is reported that domestic electrolytic manganese market has continued to decline, with markets in different areas dipping. Currently in Hunan, the offer of CNY 19000 per tonne can hardly sustain itself. In Chongqing, it stays at CNY 19000 per tonne to CNY 19100 per tonne and in Ningbo, the market even found offer of CN Y 19000 per tonne. Trade remains rather thin as a whole.

Some enterprises in Hunan said, demand for electrolytic manganese was too weak, and some enterprises had suspended production for maintenance. Domestic demand is not likely to rebound in short term. Besides, foreign trade of electrolytic manganese remains unsatisfactory too, and the price in the international market has dropped along with the downtrend.

Given the impact brought about by European and American economy, most market insiders are now worrying about the further price drop. If so, more mills would opt for halting production. – Steel Guru