It is reported that Chinese electrolytic manganese market increased for two days before it came down again.

On October 28th 2008, electrolytic manganese price tended to climb up in Hunan area. On that day traders and enterprises priced it at about CNY 12,500 per tonnes, and the price stood at CNY 12,300 per tonnes to CNY 12,400 per tonnes in Chongqing area.

However, demand went down again, so there were hardly any deals. On October 30th 2008, the enterprises became pessimistic and panic, and offered electrolytic manganese at CNY 11,500 per tonnes to CNY 12,000 per tonnes. There's no further notable decline today, since it has basically remained stale in a weak state.

This is resulted from low demand from downstream stainless steel enterprises. At present in China's stainless steel industry, supply is larger than demand as a whole. It is estimated that this year's total output will stay at 8 million tonnes and consumption at 7.1 million tonnes. Even if there was no financial crisis, China's stainless steel industry is still to go through an adjustment. If this industry continues to stay in fluctuation in short term, it'll be hard for electrolytic manganese market to go up. – MySteel.net