Manganese price rises a bit with slightly increasing inquiries

With more buyers back to the market, more inquiries have been received these days and the participants claim manganese price rises a bit again back to RMB12,300/t (USD1,801/t) ex works. The offer is about USD2,350/t FOB for export and RMB12,500/t (USD1,830/t) ex works for domestic deals.
A Hunan-based smelter with a capacity of 12,000tpy told Asian Metal that most suppliers raise their offers to RMB12,400-12,600/t (USD1,816-1,845/t) ex works. As most smelters are running low, manganese supply is a bit tight now while many downstream consumers are about to replenish some deals for the coming months.
"Manganese price is stable at above RMB12,000/t (USD1,757/t) ex works though many buyers claim the price is not the bottom line yet," said the source, claiming that as manganese smelters are mostly in low production, the supply seems tightening. And many suppliers are reluctant to sell at a price below RMB12,300/t (USD1,801/t) ex works. The source claimed that some exporters raise their offer to USD2,350-2,400/t FOB.
Another Jiangsu-based trader believed that it depends on the downstream industry that whether manganese price would move up in the coming weeks. Currently, the stainless steel market improves a bit in China with the price rising and slightly increasing demand. As a result, manganese demand also increases gradually. The source claimed that they can get some materials at RMB12,700-12,800/t (USD1,859-1,874/t) delivered to the consumers and are considering replenishing some stocks for the coming May.