As manganese metal prices continue to plummet, participants are not long confident in the market and the fear of financial disaster makes many to believe that the market will not rebound soon.
As at the close of the market Friday, offers in the warehouse Rotterdam was USD3, 250-3,300/t but by yesterday it as further dropped to USD3, 200/t, sources informed.
A trader source in Germany informed that manganese flake price has dropped down, as at the middle of last week the price was USD3, 400/t and by end of the week, he received offers at around USD3, 150/t CIF Rotterdam but did not buy any additional stock because he believes price might still dip further. "I think the market will not rebound because of the financial disaster in USA and EU as customers do not want to buy large stock," he speculates.
Another trader source in Germany thinks the present low demand for manganese metal has just began due to financial crisis; many consumers have lost confidence in the market. He thinks price will not rebound soon but rather further dip by another USD100-200/t.
The source said, because major consumers are booked, demand is very weak, and he said the price of manganese flake in warehouse is around USD3, 200/t and even then nobody wants to buy. Last week it was USD3, 250-3,300/t but we know market is not possible at the level.
As at the close of the market Friday, offers in the warehouse Rotterdam was USD3, 250-3,300/t but by yesterday it as further dropped to USD3, 200/t, sources informed.
A trader source in Germany informed that manganese flake price has dropped down, as at the middle of last week the price was USD3, 400/t and by end of the week, he received offers at around USD3, 150/t CIF Rotterdam but did not buy any additional stock because he believes price might still dip further. "I think the market will not rebound because of the financial disaster in USA and EU as customers do not want to buy large stock," he speculates.
Another trader source in Germany thinks the present low demand for manganese metal has just began due to financial crisis; many consumers have lost confidence in the market. He thinks price will not rebound soon but rather further dip by another USD100-200/t.
The source said, because major consumers are booked, demand is very weak, and he said the price of manganese flake in warehouse is around USD3, 200/t and even then nobody wants to buy. Last week it was USD3, 250-3,300/t but we know market is not possible at the level.
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