It is reported that electrolytic manganese price declined. In Hunan's Jishou and Chongzuo areas, it inched down to CNY 10,500 per tonne and in Changsha, it dipped to CNY 10,800 per tonne.

The ex-factory price in Chongqing stood at CNY 11,000 per tonne to CNY 11,200 per tonne and in Guangxi at CNY 11,000 per tonne to CNY 11,300 per tonne. This morning the prices remain at the above levels, with a few deals made.

At present, a large amount of stock is still piled up at the market. Here are the reasons for gloomy trade.

1. Electrolytic manganese demand from stainless steel manufacturers has remained weak.

2. Current electrolytic manganese stock produced on high cost hasn't been worked down, as the manufacturers and traders are reluctant to sell at current prices.

3. Electrolytic manganese market is now in a process of eliminating, and some manufacturers will be removed in due time. It will take some time before the market frees itself from the contradiction. – MySteel.net