1 Aug 08 – According to market participants, the European manganese market keeps quiet with few inquiries from consumers, as most people are on holidays during the summer period. Manganese flake prices are reported in the range of USD4,100-4,200/t in warehouse Rotterdam, and Chinese offers in the range of USD4,050-4,150/t CIF Rotterdam.
A European trader holds manganese flake prices to be in the range of USD4,100-4,200/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,050-4,150/t CIF Rotterdam.
The source claimed that the manganese market is very quiet as most consumers have gone for summer holidays. "We have not received any inquires this week nor concluded any deals. Most consumers keep their production and consumption at minimal during this period of time, and most have enough stocks to last through the summer."
He believes that the demand for manganese flakes would keep weak through the summer but expect demand to grow in the 4th quarter, arguing, "As the productions of European steel mills are still very good, we expect more buying activites when consumers return from the summer holidays to book material for 4th quarter production."
Another trader holds manganese flake prices to be in the range of USD4,100-4,200/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,050-4,150/t CIF Rotterdam.
The source opined that the slight rise of manganese flake prices in the last week would not continue, reasoning, "Believing manganese flake prices have reached the bottom, some traders came into the market last week to purchase material for positioning in the next quarter. However, the fact remains that we haven't seen buying activities from the end-users."
A European trader holds manganese flake prices to be in the range of USD4,100-4,200/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,050-4,150/t CIF Rotterdam.
The source claimed that the manganese market is very quiet as most consumers have gone for summer holidays. "We have not received any inquires this week nor concluded any deals. Most consumers keep their production and consumption at minimal during this period of time, and most have enough stocks to last through the summer."
He believes that the demand for manganese flakes would keep weak through the summer but expect demand to grow in the 4th quarter, arguing, "As the productions of European steel mills are still very good, we expect more buying activites when consumers return from the summer holidays to book material for 4th quarter production."
Another trader holds manganese flake prices to be in the range of USD4,100-4,200/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,050-4,150/t CIF Rotterdam.
The source opined that the slight rise of manganese flake prices in the last week would not continue, reasoning, "Believing manganese flake prices have reached the bottom, some traders came into the market last week to purchase material for positioning in the next quarter. However, the fact remains that we haven't seen buying activities from the end-users."
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