Expecting prices of manganese to stay weak in the fourth quarter as concern about oversupply lingers even as some producers in the major producing areas of Hunan, Chongqing, and Guizhou closed or cut output in a falling market.
As of November 12, prices of electrolytic manganese in Guizhou slipped 17% from the start of the year, and came in at 11,050 yuan/mt.
According to data from the International Manganese Institute, China’s production of electrolytic manganese rose 11.13% year on year to stand at 1.16 million mt in the first three quarters, with a capacity utilisation rate of 71%.
The industry concentration ratio was also at highs with output from the top ten companies accounting for 71.6% of the total domestic production in January-September.
Apparent consumption of electrolytic manganese, meanwhile, shrank 13.2% from a year ago, to 858,100 mt in the first three quarters.
Official data indicated that China’s imports of manganese ore were up 29.22% year on year, standing at 24.47 million mt in January-September.
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