This site is very good at keeping you updated. You will find monthly updates on the BHP Mg as well.
http://www.steelguru.com/search/index.html#279453
Some observers said that the price of manganese metal bottomed out early July 2012, but they were a bit too optimistic. The price inched down throughout July to fall CNY 500 to CNY 650 per tonne within the month. It stopped the slide early August 2012, most probably because the price came fairly close to the producers' breakeven point. Market views that some desperate sellers will soon quote some offers at a lower price level than the breakeven and make the market even weaker before it, hopefully, rebounds.
Price changes in the market for Mn: 99.7%, of Hunan origin for domestic users, ex warehouse basis, tax prepaid, have been in a gradual downtrend, i.e. CNY 14,100 to CNY 14,200 per tonne on July 10th 2012, CNY 14,000 to CNY 14,100 per tonne on July 12th 2012, CNY 13,800 to CNY 13,900 per tonne on July 18th 2012, CNY 13,600 to CNY 13,700 per tonne on July 23rd 2012 and CNY 13,100 to CNY 13,200 per tonne on July 25th 2012, CNY 12,800 to CNY 12,900 per tonne on August 2nd 2912 and CNY 12,800 to CNY 12,900 per tonne on August 8th 2012.
The producers of manganese metal in China have been basically cutting production, but in some major producing areas like Guangxi and Hunan, production has been continued or resumed on power rate subsidies from the local governments, or in Chongqing City production is scheduled to continue based on the similar subsidies to be introduced soon. These moves are probably the basis of the forecasted another fall of the price, as the lowered production costs could directly generate a room for further price drops.
Sound choice bro!
KAB Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
