Resume

摘要

Global manganese ore prices will most likely reach a local peak in Q2 and then willcontinue to fall due to a forecast decrease in raw material requirement. The marketwill probably become balanced only by 2017.Nevertheless, there is still a threat that short supply will persist in the global manganeseore market till Q3 this year. Suppliers will restrain the growth of supply andtherefore raw material stocks in China will stay low. As a result, prices will continue torise rapidly, which will cause higher profitability of manganese ore operations. Thusidling capacities will be restarted, which will result in a long-lasting market oversupplyamid poor demand and another decrease in prices to new lows.