Friday's surge in Manganese prices with the exception of Nickel was the largest one day in the commodities market we have seen for some time. A perfect storm of events leading up to and we may well have just seen the beginning.
Annoucement of 1 trillion CNY targeted infrastructure spending was the icing on the cake and in my opinion will underpin a higher Manganese prices to come. In 2016, the Chinese government announced a similar package of infrastructure spending, during that time ore prices fetched as much as $9.22 dmtu.
Remarkable how this is not one of the most talked about stock's on HotCopper ATM, especially after Friday's frenzied auction bidding. Greatful to the weak hands that sold another 70,000 units to me on Thursday and Friday and will be adding to my position on Monday.
E25 Price at posting:
94.5¢ Sentiment: Buy Disclosure: Held
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