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|Price of Mn Metal in China Still Continues to Drop|
|= Chinese stainless steel mills lower purchase price =|
In the Chinese domestic market, the price of electrolytic manganese metal continues to drop even in December, and the main price on December 3 was CNY12,000 - CNY12,100 (including tax, delivered at factory), down by CNY200 from the last weekend. |
The biggest reason why the price dropped is because the major stainless steel mills in China lowered their December purchase price, and the price offered this week was down by CNY500 - CNY550 from November purchase.
When viewed from entire China, although the supply volume to the market decreases owing to the suspension of operation by producers, but the demand and supply balance continues to be still in excessive supply because the demand in the Chinese domestic market drops sharply.
Many of traders think the price of electrolytic manganese metal will drop further if the sale to convert products into cash starts in the end of the year as it is, and the reluctance in buying in anticipation of a price fall puts the market into a downturn furthermore.
|last modified : Tue 09 Dec, 2014 [12:39]|