Manganese price remains at around RMB12,000/t (USD1,754/t) ex works but few deals are concluded. With more smelters about to halt production, the price stops from sliding again. Sources are expecting the market demand to rebound late this month.

A Hunan-based trader who received some unsolicited offers of about RMB12,300/t (USD1,798/t) ex works told Asian Metal that demand has been low for months, "thus some participants are wondering whether the market would go active late this month." The source has no intention of placing any orders yet, thinking it risky to keep stocks though the current price is claimed to be around the bottom line.

The source believed that the production cost of manganese metal would also slide in the coming weeks while the price of imported manganese ore has slid much. "This would also push down the price for domestic manganese carbonate ore," the source demanded.

The source claimed that the downstream stainless steel mills has been stagnant for months and the stainless steel output is reported to decrease in the near term, which might worsen the manganese market.

Another Hunan-based smelter who has been out of production told Asian Metal that it is too difficult for the manganese smelters to operate with hardly any profits to make. "Some people claim the suppliers can get some allowance of about RMB100-200/t for the low price of around RMB12,000/t (USD1,754/t) ex works, which could help nothing to reverse the bad situation," the source claimed, still reluctant to enter the market while no inquiry was received recently.

The source keeps watching the market, waiting for the demand to rebound and expecting a higher price.