Zhitong Financial APP learned that Southern Manganese (01091) was recently sought after by funds, rising more than 40 per cent yesterday and up more than 26 per cent in intraday trading today. As of press time, it rose 15.19% to HK $0.91, with a turnover of HK $151 million.

On the news, according to media reports, the overall spot increase in the domestic electrolytic manganese market has reached nearly 20, 000 yuan on the 22nd, and the mentality of price adjustment for manganese mills has become more and more intense under the high-level operation of bidding by individual steel enterprises in the week. I have heard that manganese mills in the southern region have traded a small amount of spot at 19800-19900 yuan / ton at the beginning of the week, and it is expected that there is limited room for new round steel enterprises to bid for lower prices when there is no short-term increase in short-term supply in late July. SMM believes that the price trend of electrolytic manganese is on the strong side during the week.