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The main price of electrolytic manganese metal in the Chinese domestic market is CNY11,300 - CNY11,400 per ton, down by CNY200 from the end of March. Albeit the producers which resist a price reduction are also in the market, the demand meant for 200-series stainless steel, etc. is weak in the Chinese domestic market and the price shows a declining trend owing to the customers' preference of cheap price (Hereinafter, the price is per ton.)

At the present moment, many of major producers set its offer price at around CNY11,400, and some of them are a tough offer of CNY11,500. Small and medium-sized producers also refrain from submitting a cheap offer price, but the trade is thin and the contract is made lopsidedly on the cheap product of CNY11,300.

One of the factors for this price downward pressure is the slumping price of 200-series stainless steel, and the stainless steel mills in China put a great deal of effort in the cost reduction to purchase raw materials. On the one hand, the external demand is also weak, and some of the shippers seem to have a thought of refraining from purchase until the price comes down to a level of CNY11,000.

• [Editor:Sophie]