China's electrolytic manganese remained stable at the beginning of the week

Electrolytic manganese remained stable, with the mainstream market price around 13,400-13,500 yuan/ton.

At present, the electrolytic manganese market remained stable at the beginning of the week, and the spot market quotation remained at a stable level. The alliance warehouse receipt and the recent small increase in steel mill bidding prices supported the stable and strong trend of the market. At present, the spot trading in the market is not active enough, and most buyers are cautious and wait-and-see. It is necessary to further wait and see the market demand and other steel bidding pricing guidelines.

In terms of steel mill bidding, the tender purchase price of metal manganese ingots in May at a steel mill in Hubei, China was 13,960 yuan/ton, the purchase quantity was 200 tons, and the acceptance was tax-inclusive to the factory.

Traders' quotations fell slightly, but downstream companies mostly took a cautious wait-and-see attitude, and the market inquiry atmosphere was cold. It is expected that the subsequent spot prices will be weak and stable.

Overall, the electrolytic manganese market still needs stronger support to guide the market trend, and wait and see more changes in steel bidding pricing and demand guidelines.