Manganese market is around RMB20,200-20,400/t (USD2,945-2,974/t) ex works in domestic market with few consumers in the market to purchase. Sources reported to Asian Metal that the market has been extremely quiet at the moment while most participants are watching. However, some deals were concluded at relatively higher prices though the quantities were small.
AsA Hunan-based smelter just concluded a deal of only one cargo at USD4,200/t CIF Pusan for prompt delivery. "The South Korean consumer failed to find any material from the major suppliers in the area and they are eager to purchase some at the moment for fear that the price might go up late this month," said the source who cliamed that many smelters have already booked out the output in August while some others are still out of production.
The power supply in Jishou, Hunan is relatively stable but the supply of raw materials is tightening. The source claimed that due to the environmental and safety consideration, many manganese mines closed recently, which will finally result in more manganese smelters cutting down their production.
The smelter is not running at two lines with an output of around 1,000tpm. The source still keeps about two cargos of materials at hand and some deals are under negotiation. "We offer USD4,000/t FOB fro prompt delivery," said the source.
Another Hunan-based trader claimed that they received no inquiry from the foreign buyers. "We lowered our offers to USD3,950/t FOB but still the export market is quiet," said the source who expected more consumers to return to the market late this month. "Some buyers are asking for materials with prompt delivery and may accept relatively higher prices but we have no stocks now."
However, the source is not quite confident whether demand would go stronger in time when the domestic production increases late August. "Maybe we need to wait till early September," said the source. The source still has some deals signed at USD4,500/t FOB in May to fulfill.
In the meanwhile, the source hopes the high price of FeMn could support manganese price at around USD4,000/t FOB if not to push it higher. The source claimed that the price at USD4,000/t FOB is workable for them but USD3,900/t FOB a bit low and many suppliers may be reluctant to sell at the latter price.
Asianmetal(English) http://www.asianmetal.com 8FPC
AsA Hunan-based smelter just concluded a deal of only one cargo at USD4,200/t CIF Pusan for prompt delivery. "The South Korean consumer failed to find any material from the major suppliers in the area and they are eager to purchase some at the moment for fear that the price might go up late this month," said the source who cliamed that many smelters have already booked out the output in August while some others are still out of production.
The power supply in Jishou, Hunan is relatively stable but the supply of raw materials is tightening. The source claimed that due to the environmental and safety consideration, many manganese mines closed recently, which will finally result in more manganese smelters cutting down their production.
The smelter is not running at two lines with an output of around 1,000tpm. The source still keeps about two cargos of materials at hand and some deals are under negotiation. "We offer USD4,000/t FOB fro prompt delivery," said the source.
Another Hunan-based trader claimed that they received no inquiry from the foreign buyers. "We lowered our offers to USD3,950/t FOB but still the export market is quiet," said the source who expected more consumers to return to the market late this month. "Some buyers are asking for materials with prompt delivery and may accept relatively higher prices but we have no stocks now."
However, the source is not quite confident whether demand would go stronger in time when the domestic production increases late August. "Maybe we need to wait till early September," said the source. The source still has some deals signed at USD4,500/t FOB in May to fulfill.
In the meanwhile, the source hopes the high price of FeMn could support manganese price at around USD4,000/t FOB if not to push it higher. The source claimed that the price at USD4,000/t FOB is workable for them but USD3,900/t FOB a bit low and many suppliers may be reluctant to sell at the latter price.
Asianmetal(English) http://www.asianmetal.com 8FPC
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