1 Aug 08 - Manganese market remains in weak demand and the price falls to RMB20,200-20,500/t (USD2,953-2,997/t) ex works but more suppliers are reluctant to sell for the moment.
A Guangxi-based smelter with a capacity of around 2,000tpm told Asian Metal that few buyers are in the market for the moment. "Demand is still very weak as the stainless steel market remains dull for the moment," said the source who claimed that some suppliers lowered their offers to RMB20,300/t (USD2,968/t) ex works but they offer a much higher price of RMB20,600/t (USD3,012/t) ex works.
The source still keeps a stock of around 200t but is not very willing to sell for the moment. "We still have some long-term contracts to fulfill and the current price is also low for us," said the source who claimed that they might accept a current bid of RMB20,600/t delivered to Guangzhou.
A Hunan-based trader lowered their offers from USD4,100/t FOB to USD4,000/t FOB. "Though the price in foreign markets seems to be high but few buyers are purchasing in the market," said the source who is very pessimistic about the market in August. "The domestic market is also sliding with the price falling to almost RMB20,000/t (USD2,924/t) ex works."
According to the newly published policy from the government, no adjustment is adopted to the manganese briquette export. "Many manganese exporters are very disappointed," said the source. "And maybe more consumers would consider using briquette due to its low prices.
However, the MC and LC FeMn price remains higher than manganese flakes and this also gives birth to some notions that manganese price might be pushed higher in the coming weeks.
A Guangxi-based smelter with a capacity of around 2,000tpm told Asian Metal that few buyers are in the market for the moment. "Demand is still very weak as the stainless steel market remains dull for the moment," said the source who claimed that some suppliers lowered their offers to RMB20,300/t (USD2,968/t) ex works but they offer a much higher price of RMB20,600/t (USD3,012/t) ex works.
The source still keeps a stock of around 200t but is not very willing to sell for the moment. "We still have some long-term contracts to fulfill and the current price is also low for us," said the source who claimed that they might accept a current bid of RMB20,600/t delivered to Guangzhou.
A Hunan-based trader lowered their offers from USD4,100/t FOB to USD4,000/t FOB. "Though the price in foreign markets seems to be high but few buyers are purchasing in the market," said the source who is very pessimistic about the market in August. "The domestic market is also sliding with the price falling to almost RMB20,000/t (USD2,924/t) ex works."
According to the newly published policy from the government, no adjustment is adopted to the manganese briquette export. "Many manganese exporters are very disappointed," said the source. "And maybe more consumers would consider using briquette due to its low prices.
However, the MC and LC FeMn price remains higher than manganese flakes and this also gives birth to some notions that manganese price might be pushed higher in the coming weeks.
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