price target after trading halt, page-79

Manganese Market Update

Seasonal slowdowns have kept manganese prices largely unchanged over the past couple of weeks.

In Europe, spot prices of silicomanganese, which is heavily used in steelmaking, remained between 940 and 980 euros per tonne.

During the summer, most European steel manufacturers shut down for two weeks, but this year some of those shutdowns are being extended as long as eight weeks due to the continent’s ongoing economic struggles.

That’s fueling worries that silicomanganese prices could fall further.

Markets were also quiet in China as trading resumed after a three-day dragon boat festival that started on June 22.

Prices of electrolytic manganese flake, which is mainly used in stainless steel, hovered around RMB14,700 to 14,900 per tonne ($2,492 to $2,539). One Shanghai trader reported export prices holding steady around $3,000, according to Metal-Pages. “Most enquiries are tentative, so no actual deals have been done,” he said.

Manganese ore weekly analysis:

Source: www.ferroalloynet.com:

This week, China manganese ore market is still down, even though there is no obvious decrease for manganese ore price , but transaction volume is very small. Last week, BHP released a flat manganese ore price in September shipment, the stable price for BHP might be able to stable the whole manganese ore market, but the manganese alloy market keep going down.

Sun, 29 Jul 2012