Re: European manganese price slips

Due to the continuous weak demand from consumers, market participants reported a slight fall of manganese flake prices to the range of USD4,050-4,150/t in warehouse Rotterdam, and Chinese offers are also lowered to the range of USD4,000-4,100/t CIF Rotterdam.
A European trader holds manganese flake prices to be in the range of USD4,050-4,100/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.
AThe source claimed that the manganese market is very quiet. "There is absolutely no inquiry from consumers in the past 3-4 weeks!"
He opined that the weakness in the market is due to the slowdown in the world economy, "The recession in Europe and the US is causing great effect on the steel industry as well. Nearly zero growth rate is forecasted for Europe in the next quarter."
The dealer believes buying activities would continue to keep weak in the next few weeks.
Another trader holds manganese flake prices to be in the range of USD4,050-4,150/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.
He agreed that the demand is very weak in Europe now, "We are receiving few inquiries from our customers, as most consumers are holding back from purchase when they are unsure of demand for their end-products in the weak economy."
The source claimed that the manganese market is very quiet now and would need to wait and see how it would become in the next few weeks, "By right, consumers are to return from the summer holidays to purchase material. But if we don't see them, then demand is expected to keep slow in the next quarter too."