Slow demand, inventory depress manganese prices further

‍‍Soft demand and accumulating inventory continued to drag down manganese prices in the week to Tuesday August 7th.

As of Wednesday, spot manganese at 18,000-18,200CNY/MT ex-work in cash, down from 18,800-19,000CNY/MT at the start of the week as Sellers cut offers. Transactions, however, were limited as buyers demanded even lower prices.

Some cargoes were heard at a low of 17,800CNY/MT ex-work in small volumes, but the products were of inferior quality.

Manganese prices started to dip in late July, from a high of 19,250CNY/MT. However, the downward room is limited as tighter supplies resulted from environment restrictions are unlikely to ease in the short term.

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