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| Chinese manganese flake |
In a move reflecting optimism in the metals market, Hubei Letong, a prominent Chinese manganese flake producer, has resumed its production of 30-40 tons per day after a nearly month-long hiatus. The suspension, which began in mid-September, was primarily due to equipment maintenance and ongoing operating losses that necessitated the pause in operations.
Market Recovery Fuels Production Resumption
The resumption of output coincides with a notable increase in manganese flake prices, driven by rising demand from the stainless steel sector. As of October 14, domestic prices for 99.7% grade manganese flake were assessed between 12,300 and 12,500 yuan per ton (approximately $1,737 to $1,765), marking a rise of 100 yuan per ton from October 11. This increase is a significant recovery from the earlier price range of 12,000 to 12,200 yuan per ton reported on September 25.
The market sentiment has strengthened in the latter part of September, particularly following China’s announcement of new stimulus measures aimed at bolstering the struggling real estate sector ahead of the October national holiday. Industry observers remain cautious, however, as they anticipate whether these policies will sufficiently stimulate demand within the steel sector.
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