22 Aug 08 - Manganese export market is dull at the moment and the export price remains low at around USD3,900-3,950/t FOB. However, sources reported to Asian Metal that the export price floor in some Customs is quite high and they find it difficult to deliver the maerial out of the Customs.
A Guangxi-based smelter who is about to deliver some material out of Huangpu Customs told Asian Metal that the price floor in Shenzhen is almost USD4,000/t FOB which they could hardly get at the moment. "Actually, the price is around USD4,000/t CIF Rotterdam for the moment," said the source who complained that current price floor is too high for the them.
"We are ready to turn in some money to the Customs as deposit but we may have to make up the gap between the price floor and our export price by ourselves. Then we can hardly have any profits at the moment," the source said.
Another Hunan-based smelter also confirms that the export price floor is hampering their export now. "The price floor could ensure that the domestic suppliers would not lower their price too much at the cost of the whole suppliers' interest, but when the market remains stagnant, we can hardly conclude a deal at workable price," said the source who claimed that the price floor in Huangpu is in the range of USD3,800-3,900/t FOB. The source claimed that once manganese price floor is over USD4,500/t FOB early this month. "Some deals were signed at higher prices months ago for long-term contracts but now the export market is weak and the price could not be so high."
AThe source also added that the price floor for manganese ingot is around USD4,050/t FOB and that of LC FeMn around USD4,050/t FOB, MC FeMn around USD3,900/t FOB for the moment.
A Guangxi-based smelter who is about to deliver some material out of Huangpu Customs told Asian Metal that the price floor in Shenzhen is almost USD4,000/t FOB which they could hardly get at the moment. "Actually, the price is around USD4,000/t CIF Rotterdam for the moment," said the source who complained that current price floor is too high for the them.
"We are ready to turn in some money to the Customs as deposit but we may have to make up the gap between the price floor and our export price by ourselves. Then we can hardly have any profits at the moment," the source said.
Another Hunan-based smelter also confirms that the export price floor is hampering their export now. "The price floor could ensure that the domestic suppliers would not lower their price too much at the cost of the whole suppliers' interest, but when the market remains stagnant, we can hardly conclude a deal at workable price," said the source who claimed that the price floor in Huangpu is in the range of USD3,800-3,900/t FOB. The source claimed that once manganese price floor is over USD4,500/t FOB early this month. "Some deals were signed at higher prices months ago for long-term contracts but now the export market is weak and the price could not be so high."
AThe source also added that the price floor for manganese ingot is around USD4,050/t FOB and that of LC FeMn around USD4,050/t FOB, MC FeMn around USD3,900/t FOB for the moment.
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