Manganese prices extend losses as demand dwindles

‍‍Manganese prices in the Chinese market extended their losses on Wednesday August 29th as profits incentivized producers to lower offers.

Manganese prices in major production areas have been on a decline this week and lost 650CNY/MT from a week ago. Latest prices on Thursday were heard around 16,700CNY/MT.

The declining market saw lackluster trades. Some producers, facing cash flow constrains at the end of the month, lowered offers to offload cargoes. Demand weakened as tenders across steel mills were settled.

Separately, Nanjing Iron and Steel in Jiangsu province settled the purchasing price of silico-manganese for its September tender at 9,200CNY/MT this week.

This is 730CNY/MT up from its August tender. Procurement volumes for the September tender stood at 8,000MT.

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