31 Jul 08 - Manganese market goes inactive though the suppliers lowered their offers slightly due to low demand in summer. Sources reported that the price has been around RMB20,200-20,500/t (USD2,971-3,001/t) ex works but still few deals are concluded.
A Hunan-based smelter who just delivered some materials concluded last week at around RMB20.800/t (USD3,045/t) ex works told Asian Metal that though the supply in domestic market remains tight, the price goes down again to below RMB20,500/t (USD3,001/t) ex works. "Few buyers are purchasing at the moment. And the market might be very dull in August," said the source who still owns about one cargos of stocks at hand.
The source claimed that manganese production in the local area is abnormal due to the power shortage and the supply of raw materials is also tightening. The source claimed one major smelter just closed in the area and they are also running at half of the capacity of 12,000tpy. The source believes few suppliers have large stocks at hand. "Actually, we are not so eager to empty the stocks at the moment and there is no meaning for us suppliers to lower ther price before any one makes an offer."
Another Hunan-based trader still quotes USD4,050/t FOB but received no reply recently. The source claimed that manganese price is rising in European markets but as fewer buyers are purchasing from China for the momen, they could not sell a good pricet. "We learnt some deals were concluded at around USD3,950-4,000/t CIF Rotterdam, which we think too low for us," said the source who feels hesitant to conclude a deal at current price level of around USD3,950-4,000/t FOB. "The price in foreign markets is rising and we hope the buyers would find our offer workable in the coming weeks."
however, the source is not quite confident about the market trend. "We don't know how long could the higher prices last in warehouse Rotterdam as demand would remain weak in the coming weeks," said the source who claimed that the domestic price decreases to RMB20,200/t (USD2,971/t) ex works for the moment.
A Hunan-based smelter who just delivered some materials concluded last week at around RMB20.800/t (USD3,045/t) ex works told Asian Metal that though the supply in domestic market remains tight, the price goes down again to below RMB20,500/t (USD3,001/t) ex works. "Few buyers are purchasing at the moment. And the market might be very dull in August," said the source who still owns about one cargos of stocks at hand.
The source claimed that manganese production in the local area is abnormal due to the power shortage and the supply of raw materials is also tightening. The source claimed one major smelter just closed in the area and they are also running at half of the capacity of 12,000tpy. The source believes few suppliers have large stocks at hand. "Actually, we are not so eager to empty the stocks at the moment and there is no meaning for us suppliers to lower ther price before any one makes an offer."
Another Hunan-based trader still quotes USD4,050/t FOB but received no reply recently. The source claimed that manganese price is rising in European markets but as fewer buyers are purchasing from China for the momen, they could not sell a good pricet. "We learnt some deals were concluded at around USD3,950-4,000/t CIF Rotterdam, which we think too low for us," said the source who feels hesitant to conclude a deal at current price level of around USD3,950-4,000/t FOB. "The price in foreign markets is rising and we hope the buyers would find our offer workable in the coming weeks."
however, the source is not quite confident about the market trend. "We don't know how long could the higher prices last in warehouse Rotterdam as demand would remain weak in the coming weeks," said the source who claimed that the domestic price decreases to RMB20,200/t (USD2,971/t) ex works for the moment.
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