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EMM Price in China Continues Rising Slightly
= Major producers resist price cut and steel mills' purchase price is up =
The main price of electrolytic manganese metal (EMM) in the Chinese domestic market as of January 18 is CNY12,900 - CNY13,100 per ton, up by CNY150 - CNY200 from the bottom price on or about January 12. The offer price (FOB) for export is also up by US$15 - US$20 ditto.

The price which rebounded on January 13 continued rising with a small range of CNY50 - CNY100 even at the turn of the week, and some market participants foresee the rising trend will continue until just before Chinese New Year holidays (from January 27 to February 2), for which such factors are provided as (1) Multiple major producers resisted cut in offer price, (2) Purchase prices steel mills submitted are up by and large from the ones in December, (3) Realization sales slowed down before Chinese New Year holidays, (4) Many of the market participants think the consumption of manganese metal will make a recovery from the middle of February onward and (5) A relatively high electricity rate for a low-water season is anticipated to be applied in southern China where there are many major producing areas.

In the Chinese domestic market, the cheap offer prices submitted by trading firms are seen occasionally even at the present moment, but the buyers are cautious about non-delivery cases which happened last September or December owing to cheap contract prices.
last modified : Wed 25 Jan, 2017 [09:48]
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